Home Innovation’s recent 2019 Builder Practices Survey of 1,500+ U.S. home builders confirms what the U.S. Census has been reporting in recent months—the average new home size is declining. For the second time in a decade, the average home size paused its upward climb for at least a couple years of descent.
It seems logical to assume that older houses—with more wear and tear, longer exposure to weather, and functionally obsolete features—are more likely to be remodeled or upgraded than newer homes. So, following that logic, owners of “elderly” homes should be better targets for selling home improvement products and upgrades, right? Not necessarily. Applying this age-old assumption blindly across all product categories can lead to lost opportunities for selling remodeling products and services to owners of newer homes.