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Home Buyers Want Bigger Homes

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In a recent Census Bureau report that was released on Monday, home buyers are buying BIGGER homes! According to the report, the median home in the U.S has increased from 2009 to 2012 an average of 8%. The increase to an average of 2,306 square feet is an all time record. This is a direct opposite to the trend that showed homes decreasing in size during the recession to an average of 2.135 square feet.

In a related CNNMoney article it was primarily attributed to the current credit market and historically low mortgage rates which allow people to afford more home and stay within their budget. The article also indicated that consumers are simply programmed to want bigger living spaces.

Please see the complete CNNMoney article at the link listed below.
http://money.cnn.com/2013/06/04/real_estate/home-size/index.html?section=money_realestate&

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