PHOENIX — There’s a growing trend in real estate and now experts are noticing it in the Valley too.
That trend is downsizing.
The National Association of Homebuilders said the size of single-family homes is shrinking. The NAHB reported in 2023, the median single-family square floor area declined to about 2,200 square feet. That's the lowest since 2010.
And a recent survey of a Texas electric company revealed that nearly one in five Americans have downsized just to save money on their utility bills.
Rising home prices, increased interest rates, retirement and higher cost of living are some of the reasons moving experts said more homeowners are trading larger for smaller.
Courtney Flores, who is newer to the Valley, left her life in San Jose to downsize in Arizona. She said it was her last option and feared she would become homeless.
“The rent is atrocious there," Flores said. 'I’m not even exaggerating. I feel like my next step was close to pushing a shopping cart if I didn’t try to figure out something for myself. I didn’t have savings there and it scares me. I’m scared for the future.”
In the Valley, a local moving company, Two Men and a Truck, said it's seeing Arizonans downsize daily. General Manager Robert Pennell, said the trend has been ramping up for the last year and a half.
Pennell added that once there's a scheduled moving date, it's best to start decluttering right away. Stay organized by separating into three piles: one, keepers; two, donations; and three, trash.
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