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Market Watch: Size Down, Ceilings Up

Jan01
2008
2 Comments Written by Theresa

High CeilingsHomes have changed dramatically over the years, and according to a survey conducted by the National Association of Home Builders, that trend will continue throughout the next decade. The survey suggests we can expect homes to be smaller but with more volume:

“Single-family homes are expected to end a growth spurt that has persisted since 1973. New single-family homes completed in the first three quarters of 2006 had an average floor area of 2,459 square feet, up from about 1,500 square feet in 1973. But the consensus of professionals polled by NAHB was that average home size would slip into the 2,300 to 2,500 square foot range by 2015. Upscale homes were defined as homes with at least 4,000 square feet. The loss of square footage is offset by a trend toward more cubic footage–that is to create more volume, high ceilings will become more popular. Ceilings on the first floor of an average home have inched higher over the last decade and are expected to be at least nine feet over the next decade, with some average homes sporting 10-foot ceilings. In luxury homes, a 10-foot ceiling will be the standard on the entry level, ranging up to 12 feet and a nine-foot ceiling will be standard on the second floor.”

Want to know what other features will new homes have? What features will become obsolete? Read the rest of the article here.

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