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Americans trending toward smaller homes

A survey shows Americans prefer living in a smaller home.

A survey shows Americans prefer living in a smaller home.

A new survey indicates more Americans are thinking smaller is better when it comes to home size.

The results of the survey by Relocation.com revealed 48 percent of homeowners and buyers believe that the ideal home size for them would be 1,000 to 1,999 square feet, while 29 percent favor a home that is 2,000 to 2,999 square feet.

Housing experts say more Americans are downsizing due to the struggling condition of the economy. Relocation.com chairman and founder Sharon Asher, says, “We’re definitely seeing more Americans downsizing due to the current state of the economy,” she commented. “But as more homeowners rethink how much space they need, I think we’ll continue to see more innovative approaches to living well and sustainably within a smaller footprint.”

Other results from the survey reveal 54 percent of Americans prefer living in a suburban neighborhood, compared to urban and rural neighborhoods which only received 24 percent and 22 percent of responses, respectively.

Smaller homes are also more popular among homebuyers moving into their first home. A report earlier this year by the National Association of Home Builders found that first-time buyers chose homes that were more than 26 percent smaller than average.