Have you ever noticed all the big houses in the Dallas-Fort Worth suburbs? They are a reflection of changing consumer tastes over time, as well as dramatic growth in high-paying professional jobs.
Big houses weren't always so common. If we look at the data, a noticeable jump in average home sizes happened in the mid-to-late 1980s. This coincided when everything was getting bigger in Dallas — most of today's high-rise skyline also sprouted up in the '80s. The size of new homes surged from 2,100 sqft to 2,500 sqft. Sizes have crept up only slightly since then, to about 2,600 sqft on average today.
Even before that, there was a jump in size from the modest homes of the 1940s and 50s, to the larger and more luxurious homes of the '60s. The size of new homes took off in the 1950s, rising from 1,500 sqft on average to 2,000 sqft by 1965.
Meanwhile, lot sizes for newly built homes seem to be getting smaller.
What might the post-COVID future look like if more people work remotely and demand larger homes that can accommodate home offices? We may see another bump in average sizes soon.
About Spatial Laser
We are building a software-as-a-service offering to help real estate investors discover where to buy rental properties, down to the exact block and individual opportunity. We use machine learning to model investment returns, risk, and market conditions at the hyper-local level using proprietary ranking and scoring. We display this visually in a colorful map-driven system. Investors get recommendations they can act upon immediately.
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