The median size of newly built homes is currently on the decline, leading many housing experts to believe that the market is opening up to entry-level buyers.
“It doesn’t reflect changes in preferences, necessarily,” Robert Dietz, an economist with the National Association of Home Builders, told the Wall Street Journal. “It reflects who’s buying new, single-family homes.”
Whereas new homes measured an average of 2,472 square feet in the second quarter of 2014, that number was down to 2,414 square feet in the third quarter, making it the second consecutive quarterly drop.
Image via flickr/jkfid
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