New Homes Grow Larger As Builders Target High-End Buyers

A primary question now facing the home-building industry is when builders will start pivoting away from high-priced homes to instead build a greater volume of homes at lower price points. Do they start that transition in the hope that buyers already are there waiting for cheaper homes? Or must they wait for credit standards to loosen before that demand surfaces?

“Most people still view their home as their castle,” said Brent Anderson, spokesman for Meritage Homes, which sold 1,525 homes in the first quarter at an average price of $364,000. “The trend since 2009 has been toward larger homes with more bedrooms, larger kitchens and master suites, and the growing popularity of media rooms.”

Read more: http://blogs.wsj.com/economics/2014/05/16/new-homes-grow-larger-as-builders-target-high-end-buyers/

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