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Compared to other countries, America is known for bigger cars, portions and take-out coffee cup sizes. For most of recent history, Americans have also wanted bigger homes — but now that’s changing.
For most of the last half-century, new single-family homes kept growing. In 1973, the median size of completed single-family homes was 1,525 square feet, according to US Census data. By 2015, that number had ballooned to 2,467 square feet.
But as the cost of buying a home has exploded and McMansions have fallen out of favor, homebuilders have reversed course, building smaller homes with an eye to first-time buyers. In 2023, the median single-family home built was 2,233 square feet, down 9% from the 2015 peak, with many formal dining rooms and “bonus” rooms disappearing.
Carias and her partner ultimately settled on a roughly 920-square-foot home. To maximize space, they decided to use the basement as their primary bedroom.
We just had our first and live in a two bed that’s “1500” sq feet I could not imaging a family of 4 or 5 living in smaller especially if 1 or both spouses work from home. I need a room to close the door at the end of the day to not look at work anymore
Oh yes, now I can definitely live in a 10 sqms apartment, yey
But not cheaper
Hey CNN, you dropped the most important value there buddy. I see median new construction is still 200k+ more than I can afford so…
WHAT’S THE PRICE!?
I don’t for one single millisecond believe that these “starter houses” will come with starter prices. You know, the whole goddamn reason we can’t buy anything…
They didn’t drop it. You didn’t read the article.
There are signs those efforts might be helping buyers get in the door: The median sales price of existing homes jumped to $426,900 in June, according to the National Association of Realtors, while the median price of new homes in June was $417,300, according to the US Census Bureau.
Pay MORE for LESS! It’s the American idiot way!
