Many Americans moving into larger homes

Though downsizing has become somewhat of a catch-term, the Los Angles Times reports that in actuality, many Americans are moving up into larger homes or onto bigger properties.

The source says that a study by John Burns Real Estate Counseling, a company in Irvine, California, found that many potential homebuyers still want more space. If they cannot find that space in the form of a larger home, then they are willing to accept more yard space, the source says.

The survey included nearly 10,000 respondents and was biased toward home shoppers, the source reports, meaning it may be an accurate representation of what today's potential buyers are looking for.

The Times reports the survey's findings are important because they counter the general belief in the real estate industry that consumers desire smaller homes. They predict that homebuilding trends will soon reverse to suit homebuyers' desire to still have a large property.

"Demographics drive what we build," David Crowe, the NAHB chief economist, told the source. "We have to look at who's coming into the marketplace, and we will cater to what they want."

A potential driving factor behind the desire for larger homes is the extended length of time that experts say homebuyers need to stay in their homes in order to sell it for a similar value for which they purchased it.  

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