There is still big demand for larger homes despite economists, builders, and analysts expecting more smaller homes to come up as entry-level buyers make a comeback.
Data released by the Commerce Department this week show “unprecedented demand in 2014 for homes with four or more bedrooms, three or more bathrooms, and three-car garages,” writes real estate reporter Kris Hudson in the Wall Street Journal.
Dale Francescon, co-chief executive of Denver-based Century Communities, argues that McMansions won’t lose popularity. “We haven’t seen a decline in the demand for larger homes,” he tells The Wall Street Journal. “What we’ve really seen is an increased demand for smaller homes at a lower price point.”
Advertisement
Related Stories
New-Home Sales
Mortgage Rates Are Up but New-Home Sales Still Solid in March
Lack of existing home inventory drove a rise in new-home sales, despite higher interest rates in March
Sustainability
Mention of Eco-Friendly Home Features Is on the Rise in Sales Listings
Home listing descriptions using eco-friendly terms have been rising over the past five years in line with growing consumer interest in the environment and energy efficiency
Sales + Marketing
New-Home Sales and Navigating the 3 D’s: Death, Divorce, and Downsizing
Here’s how home sales experts manage challenging lifestyle changes with and for their buyers