After three decades of expansion, the size of the average U.S. home appears to be moderating.

Home size grew to more than 2,300 square feet in 2001 from approximately 1,500 sq. ft. in 1970, but growth has slowed significantly since then. The U.S. Census Bureau reports that American homes averaged 2,400 sq. ft. as of June 2005. “That suggests the size of the average house is stabilizing,” says Gopal Ahluwalia of the National Association of Home Builders.

He and other observers cite a number of reasons for the shift, including the steep cost of furnishing and maintaining large residences, high fuel prices that send the cost of heating and cooling such homes into the stratosphere, and rising interest rates and land costs that make it more difficult to afford bigger dwellings.

There also is a perception in some areas that owners of McMansions are spoiling the views of the neighboring homes that they often overshadow or that they have a negative impact on the environment.

Additionally, corporate wrongdoing in recent years has made monster homes a symbol of greed to many Americans.

A 2004 NAHB survey indicated that more U.S. homeowners prefer more amenities to more space.
Source: New York Times