Faced with high mortgage rates, cost-constrained Americans are embracing smaller homes

  • DerisionConsulting
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    1 year ago

    It is good that the houses are becoming less gigantic now, and I have nothing against working-class families.

    From the article:

    In December, Brad and Julie Redman downsized from their more-than 7,000 square-foot custom-built home to a 3,400 square-foot semi-custom model in Westfield, Ind., after their children left home.

    Since 2018, the average unit size for new housing starts has decreased 10% nationally to 2,420 square feet

    Sonia Mendez, a real-estate agent in the area, said she has seen builders increase construction of 1,500 to 1,700 square-foot townhomes.