Not only are there way too many big homes on the market, but there is now far less desire for people to ever own a "McMansion". A recent survey conducted by Trulia recently shows that American’s attitudes towards home ownership, and the size of homes they desire to own has drastically changed over the past few years. Many people who bought large homes during the boom, now realize that they don't need nearly as much space.

Consider this:

In the survey, just 9% of Americans adults desire a home bigger than 3,200 square feet. On the MLS in Utah there are currently 5,500 homes for sale with at least 3,200 square feet. This represents 24.9% of the current Utah Homes for Sale!

13% of  adults want a home between 2,601 and 3,200 square feet. 14.2% of the Homes for Sale in Utah match this criteria. 

27% wanted a house  between 2,001 and 2,600 square feet. 19.7% of the current Utah Real Estate listings fall in this size

28% surveyed desire homes between 1,401 square feet and 2,000 square feet. 23% of Utah Houses for Sale fall in this range. 

9% want homes less than 1,400 sqaure feet. 18.6% of Utah Homes on the MLS are smaller than 1,400 square feet. 

There might be a little bit more demand for larger sized homes in Utah due to different demographics. Utah’s population is much younger than national averages and we also have larger  average family sizes. The actual desire for larger homes is probably higher than national averages. But, these results are just from a survey. The people surveyed may not actually have the mans to buy a home as large the one they actually desire. 

In addition, even if the percentages did match up, in total Utah has too many homes for sale. Compared with the home sales pace over the last year, Utah has 9 months of active inventory. Ultimately, there are way too many larger homes for sale in Northern Utah. There will still be significant drops in the values of large Utah Homes.