Gopal Ahuwalia, research director at the National Association of Home Builders, says houses are bigger and come with more amenities than ever before, despite the fact that the average family size has decreased. In 1970, for example, the average home size was 1,400 square feet. Today it's up to 2,200 square feet. And standard features include at least one fireplace, central air, a two-car garage and at least two and a half baths. And builders are complying.
People have the opportunity to create a nest that fits their personality.
Of course, the earlier in the building process buyers come in, the more opportunity they have to customize their homes. Homeowners want to buy a home where they'll stay put for a longer period of time than in the past, according to national trends. Such attitudes combined with the good economy and low interest rates will likely keep new-home purchases up, despite the high demand. While industry experts and realtors still exude excitement over 1998 records, they're keeping their fingers crossed in predicting a better result for 1999. Most say the new-home sales market will fall between 5 and 10 percent this year, but a few are more optimistic.