Denver development dubbed the “American Dream” by Oakwood Homes is targeting entry level-buyers between $220,000 and $260,000. As reported in the Washington Post, builders across the nation are beginning to cater to “middle” buyers by offering smaller, more affordable housing options.
Nationwide Trend: New Builds are Smaller
The trend of the last couple of decades to build larger and larger homes may be shifting. According to the Washington Post, the National Association of Homebuilders data shows that the size of new builds has shrunk for the past three years.
Metro Denver Inventory of Smaller Homes
In metro Denver we’ve seen drastically low housing inventory in smaller homes since 2015. This year has started a little differently. Compared to 2018, January of 2019 saw a lot more homes added to the housing inventory (50% more homes as of January 1, 2019).
Much of this added inventory is smaller homes. Check out the chart below which compares the number of active homes by size from 2015 through the end of 2018. Inventory growth by over 200% for smaller homes is welcome relief to buyers.