Could Decline in Median New-Home Size Herald Return of Entry-Level Buyers?

Newly built, single-family homes in the U.S. finally are getting smaller, a sign that a long-awaited shift of builders to slightly smaller, more affordable homes likely has started. Commerce Department data released Wednesday shows the median size of a single-family home built in the third quarter was 2,414 square feet, down 2.3% from the second quarter measure of 2,472.

The third-quarter figure is the lowest since 2012’s fourth quarter, and it is the second consecutive quarterly decline following a 0.2% drop in this year’s second quarter. Read here for more info.

Speak Your Mind

*