Smaller Homes, Bigger Opportunities: The Homebuilder Trend Buyers Love
It’s no secret that affordability is tough with where mortgage rates and home prices are right now. And that may have you worried about how you’ll be able to buy a home. But, if you don’t need a ton of space, you may find you have more cost-effective options in an unexpected place: new home communities.
Builders Are Building Smaller Homes
Since smaller homes typically come with smaller price tags, buyers have turned their attention to homes with less square footage — and builders have shifted their focus to capitalize on that demand. As U.S. News notes:
“The combination of higher home prices and mortgage rates has strained a lot of people’s budgets. And that’s something builders recognize. To this end, they may be leaning toward smaller spaces . . .That, in turn, can lead to savings for buyers.”
Data from the Census shows the overall builder trend toward smaller, single-family homes has been over the last couple of years (see graph below):
As the graph shows, the average size of a brand-new home has dropped from 2,309 square feet in Q3 2022 to 2,171 square feet in Q3 2024. That’s a difference of 138 square feet.
At the end of the day, builders want to build what they know will sell. And the number one thing homebuyers are looking for right now is less expensive options to help offset today’s affordability challenges. As Multi-Housing News notes:
“The growing trend toward smaller homes is evident. These homes are less expensive to build and more attainable for many middle-income families, meeting both housing needs and modern lifestyle preferences.”
The Benefits of These Brand-New Homes
So, if you’re having trouble finding a home in your budget, it might be worth exploring newly built homes with a smaller footprint.
Not to mention, since newly built homes come with brand new everything, they have fewer maintenance needs and some of the latest features available, like energy-efficient appliances and HVAC. That’ll help you save on repair costs and your monthly utility bills. Sounds like an all-around win.
Bottom Line
Today’s builders are focusing their efforts on smaller homes at lower price points. That could give you more opportunity to find something that fits your budget. If you’re planning to buy soon, let’s connect to explore what’s on the market in your area and get your homeownership goals over the finish line.
Courteous of Keeping Current Matters
RE/MAX Achievers sold nearly $1 Billion Dollars in real estate during the last 5 years! RE/MAX was voted 2024’s number one real estate brand. RE/MAX Achievers Broker/Owner, John E. Ohler has stated he “is so proud of our accomplishments thanks to the surrounding communities. RE/MAX is a household name!” RE/MAX Achievers was awarded the 2022 RE/MAX President Club Award and the 2022, 2021, 2020, 2019, 2018 RE/MAX Achievement of Excellence Award! RE/MAX was voted the 2024, 2023, 2022 MOST Trusted Real Estate brand and agents. RE/MAX Achievers offers real estate services in 5 counties: Montgomery, Chester, Berks, Bucks and Philadelphia counties.
Call our agents or find us on Facebook and Instagram at “REMAXAchieversAgentsinPA”, two offices located in Collegeville 610-489-5900 or Pottstown 610-326-1200. Call us and see why our realtors are award-winning sales agents!
#RemaxHustle #GetSoldByRemax #Justlisted #REMAXAchieversrealestate #AwardWinningAgents #Remaxisthebest #RemaxSells #JustSoldbyREMAXAchievers #REMAX #RealEstateInvestments #REMAXAchievers AgentsinPA #HomesforSaleREMAXAchieversPA #REMAX #REMAXAchievers #REMAXrentals #AchieversPA #JustSoldbyREMAXAchievers #REMAX #mortgageprequalified #mortgagepreapproval #REMAXSellsMontgomeryCountyHomesForSale #Remaxachieverspa #Achieversfamily #Ourrealestatefamily #remax #remaxhustle #realestate #callremax #realty #broker #forsale #newhome #newconstruction #househunting #property #realestate #investment #home #housing #mortgage #foreclosure #selling #justlisted #justsold #openhouse #PArealestate #Homeforsale #firsttimehomebuyer #Chestercountyrealestate #realestateinvestment #MainLinerealestate #MainLinehomeforsale #DelawareCountyrealestate #remaxachievers #justlisted #HistoricHomeforsale #MontgomeryCountyhomeforsale #MontgomeryCountyrealestate #Phoenixvillehomeforsale #SoldByREMAX #Pottsgrovehomeforsale #Collegevillehomeforsale #BuyinCollegeville #Collegevillerealestate #Phoenixvillerealestate #soldinoneday #chestercountyrealestatemarket #soldinfivedays #remaxjustsold #REMAXhustle #REMAXopenhouse #remaxachienvers #remaxrealestate #MainLinerealestate #JustListedbyREMAXAchieversPA #Collegeville #chestercountyrealestate #soldfast #BuyingCollegeville #Collegevillerealestate #Schwenksvillerealestatemarket #Schwenksvillehomesforsale #SchwenksvillePArealestate #justsoldbyremaxachievers #homeforsaleinRoyersfordPA #HomeforsaleSpringfordschooldistrict #Springfordschooldistrict #Royersfordhomseforsale #Pottstownhomesforsale #Birdsborohomesforsale #Douglassvillehomesforsale #Limerickhomesforsale #Stowehomesforsale #Skippackhomesforsale #OwenJRobertsSchoolDistrict #PerkiomenValleySchoolDistrict #BoyertownhomesforSale #BuyHome #CondosforSale #RealEstateMarketTrends #Appraisal #Townhomesforsale #Appraisal #Buyingahouse #FHALoans #House4Sale #RealEsateAgent #VALoans
