Prices fall because home size is falling

Now, to do a similar analysis on the CharlAlbemarle regional market … If only I had the data interpretation skills and tools …

3 Oceans does a brilliant analysis that shows the current trend toward smaller houses with better space (not just more and the impact on home prices. I’ve talked about this before, and will say it again. More and more, people are realizing that not only does one have to clean the 12 foot foyer, they have to heat it as well – neither of which is cheap.

Check it out.

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4 Comments

  1. TrvlnMn October 26, 2006 at 13:01

    3 Oceans does a brilliant analysis that shows the current trend toward smaller houses with better space

    The problem in Cville is that the (local) builders don’t use architects. They just rely on the same old building designs they’ve been using for the past 30 years.

    Go to Los Angeles and take a tour of the houses out there- look at some of the smaller ones. Space is a premium out there so they’ve learned how to do some great things with less, and can make a house feel like more than a box with windows. It was one of my bigger let downs going from there (with really well designed small spaces) to here seeing all this space Virginia has, but also seeing the way the builders waste it putting up that same old house year after year.

  2. Kevin October 26, 2006 at 14:17

    Wish I could take credit, but in fact most of the heavy lifting was done by the good folks at Altos Research. I only take credit for the scribbles on the charts! 🙂 I know Altos Research is constantly moving into new markets, so if you’re interested in, you might want to reach out to them and find out if they have plans for your area. Their products really do take market analysis to the next level!

  3. Altos October 26, 2006 at 14:28

    Hi Jim –

    We’re expanding nationally and are working our way to Virginia asap!

  4. Jim Duncan October 26, 2006 at 14:36

    Mike –

    The sooner the better. As evidenced by my recent post, I need more data analysis!

    TrvlnMn – I share your feelings. Smart spaces are the next “trend,” brought about by a lot of factors, not least the increase in heating/cooling costs, but also a recognition that having a formal dining room, a living room, a study and a family room are all superfluous when all people use is the kitchen and the open room it shares.

    –Jim