Written by: Samantha Guarderas

            Over the past 5 years, many homeowners have been downsizing. However, homeowners may be finding themselves “upsizing”. What is the main reason for this change? Expanding families and a need for more living space is what will ultimately drive this alteration.

            Current buyers are concentrating on proficient ways to utilize the space in their homes. In a survey conducted by national homebuilder PulteGroup, eighty-four percent of homeowners between the ages of 18-59 confirmed that they did not plan to downsize. This is surprising, but also many people have been unable to sell their large homes because of the drop in home prices over the past couple of years.

            From 2010 to 2011, the average size of a new home went up 3.7%, according to the U.S. Census Bureau (http://ht.ly/gajAo). Since 2007, this was the first time that there was any hint of homebuilders seeking and commanding bigger space. On top of this shift, homeowners are making it a point to upsize to their current homes. With 35% of architects reporting enhancements in additions and alterations to homes last year, this number has gone up significantly to 58% this past year.

            What else is driving this increase? Energy efficiency and the want to support larger families are carrying these gains. The values of these larger homes, which have been referred to as “McMansions” (between 3,000-5,000 sq ft), are beginning to gain back their value, which had been forgotten about during the housing crash.

            As the year is coming to a close, Eklipse Real Estate has taken note of the wonderful accomplishments over the past year. With over $5 million in sales in our last quarter of the year, we are excited to see what the New Year will bring. Please make sure to follow us on twitter and like us on facebook.