Real Estate Values – A Step Back In Time

As we read in the paper about October having the fewest new home starts, step back a few years to review homes.

In 1900 a typical new house was 700 square feet, 2-3 bedrooms, one-or no-bathroom and 2 stories high.

In 1950 the new house was now 1000 square feet, 2 bedrooms, 1 bathroom and 1 story.

In 2000 the home had grown to 2265 square feet, 3 or more bedrooms, 2 1/2 bathrooms, garage for 2 or more cars, central AC, 1 fireplace and 2 stories. Yet familiy size was down to 1.7 children per family. What a difference a few years make!

Source: National Association of Homebuilders.

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