The resume larger homes uses housing hanoi sizes bottomed in 2009.
The NAHB says builders are meeting the requirements in their customers, who've a significantly higher credit rating and also a higher median income than in 2007. The average new-home sale price rose to $318,000 in 2013 from $248,000 last year.
Nowadays, the normal new residence is about 50% larger than its 1973 counterpart, in line with the Census Bureau, which began tracking these kinds of data in the mid-1970s.
As size has increased, so provides the number of bedrooms. Of all the so-called new homes built, 48% had four or five bedrooms in 2013, in comparison with 34% last year. If this trend holds, it could actually bring another key transfer of the housing demographic: The three-bedroom home, containing been the model of the housing industry since 1973, could be traded up for the bigger size.
Moreover, 35% of the latest homes built in 2013 had at least three full bathrooms, up from 23% in 2010. Similarly, the share of homes with garages for three or more cars rose to 22% in 2013 from 16% in 2010.
According to a recent NAHB study on the Characteristics of House for rent in Hanoi, first-time homebuyers purchase cheaper and smaller homes than trade-up buyers. First-time buyers, who usually represent 40% with the market, have been steadily eliminated from the market as credit rules have tightened and mortgage rates have increased, based on the NAHB report, which may also explain the rise in average home size.
From Vinahouselink
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