In a new report based on housing trends and conditions in 2016, Porch has jumped ahead 20 years to predict how homes and the housing market may look by 2036.
In 2016, the average home was 2,600 square feet in size, and the average home price was $198,000. By 2036, Porch predicts that homes will average 3,000 square feet and cost an average of nearly $305,000. About 63% of buyers will finance these purchases with a conventional home loan.
About a quarter of homes will be built without basements. Just over half will have four or more bedrooms, and nearly 40% will have three full bathrooms. Laundry hookups will be located on the second floor in 60% of homes. All homes will have central air, 61.5% will have heat pumps, and 68.5% won’t have a fireplace.Read More