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(i)ffea/ Estate
Eileen M. Day realtor
WHY HOUSE
SIZES CHANGE
The poor homebuyer must be a little bewildered. First he reads about new house sizes getting smaller, then a few years later, he reads they are getting bigger, then. . . smaller. What’s happening and why the (up and down trend in construction x>f new homes? The answer is simple. It all depends on the economic situation at the time.
Builders have a product to sell.
Because carrying costs for unsold homes-are high, builders want to move their inventories as quickly as possible. When builders are pessimistic about the economy, they build smaller homes which are less expensive and easier to sell. When builders are optimistic about the economy and money supply, they build larger homes.
In every recession, new home ' sizes have decreased. In every subsequent recovery, new home sizes have increased. The record size for new homes was back in 1978 with an average size of 1,650 square feet. During the 1982 recession, the size dropped to 1,445 square feet.
If there is anything we can do to help you in the field of real estate, please phone or drop in at EILEEN M. DAY, Realtor, The Clopton House, Washington, VA 22747. Phone: 675-3400. We’re here to help.
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