Homes are getting smaller in 2024: Here's why

The video discusses the shift in housing trends towards smaller homes due to high land and building costs. Builders are adapting by optimizing square footage and offering more affordable options like townhomes. The pandemic initially increased home sizes, but affordability issues have since led to a decrease. Consumers are opting for smaller homes, sacrificing some features for cost savings. Downsizing is seen as a way to gain freedom from the maintenance of larger properties.

What is one of the main reasons for the shift towards smaller homes?

• Increased availability of large lots

• High land and building costs

• Preference for more luxurious features

• Decline in family sizes

How did the pandemic initially affect home sizes in 2021?

• Home sizes remained stable

• Home sizes increased due to demand for more space

• There was no change in home sizes

• Home sizes decreased significantly

According to the Census Bureau, what was the average square footage of new housing units in the first quarter of this year?

• 2500 square feet

• 2300 square feet

• 2700 square feet

• 2000 square feet

What type of housing is considered more affordable according to Holden Lewis?

• Mansions

• Luxury apartments

• Single-family homes

• Townhomes

What is one benefit of downsizing mentioned by home buyer Carolyn Marsh?

• Increased maintenance costs

• More freedom from upkeep

• Larger yard space

• More garage space