The return to larger homes employs housing hanoi sizes bottomed out in 2009.
The NAHB says builders are meeting the demands of their customers, who have an extremely higher credit history and also a higher median income in comparison to 2007. The standard new-home sale price rose to $318,000 in 2013 from $248,000 in '09.
Today, the typical new home is about 50% larger than its 1973 counterpart, using the Census Bureau, which began tracking these kinds of data inside the mid-1970s.
As square footage has grown, so has the variety of bedrooms. Of all the new homes built, 48% had four or five bedrooms in 2013, as compared to 34% during the past year. If this type of trend holds, it might bring another key shift in the housing demographic: These-bedroom home, which has been the model of the housing sector since 1973, might be traded up for just a bigger size.
Additionally, 35% of the latest homes inbuilt 2013 had no less than three full bathrooms, up from 23% this season. Similarly, the share of homes with garages for three or more cars rose to 22% in 2013 from 16% truly.
According to a current NAHB study around the Characteristics of House for rent in Hanoi, first-time homebuyers purchase less expensive and smaller homes than trade-up buyers. First-time buyers, who usually represent 40% from the market, have been steadily eliminated on the market as credit rules have tightened and mortgage rates have increased, using the NAHB report, which will also explain the increase in average home size.
From Vinahouselink
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