U.S. Home Size Shrinks, AIA Survey Finds
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The growing demand for smaller size homes continued in the fist quarter of the year, driven by the recession and, "renewed interest in lowering utility costs," according to the most recent American Institute of Architects (AIA)
Home Design Trends survey.
More than half of the participating architects reported home sizes declining, while fewer than 4% said the size of the typical home was increasing.
Among architects responding, a greater number (12%) reported home volume declining (ceiling height, two-story foyers, etc.) than the number reporting increasing volumes (11%).
"Concerns over rising home energy costs in the years ahead may be contributing to this trend in home volume," writes Kermit Baker, AIA chief economist on the AIA website.
"Home sizes historically have declined during housing recessions," Baker said, "but this downturn appears to have ushered in a more dramatic reversal of an extended period of growth in home sizes."
Read a detailed summary of the survey here.