While New Houses Are Getting Bigger, Millennials Opt for Smaller, Existing Homes

Budget-minded Millennials prefer remodeling to buying new

January 26, 2016
While New Houses Are Getting Bigger, Millennials Opt for Smaller, Existing Homes
While New Houses Are Getting Bigger, Millennials Opt for Smaller, Existing Homes

Homebuyers between 25 and 34 years of age are nearly absent from the new-home market, a realm dominated by spacious, and expensive, homes. 

MarketWatch reports that though new houses are getting bigger (2,721 square feet on houses that started construction in 2015) and more expensive ($351,000) on average, Millennials are choosing to buy existing homes instead. 

According to a Better Homes and Gardens survey, a majority of Millennials say that a home that is customized to their tastes is a top priority.

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