New-Home Sizes Shrink as First-Time Buyers Enter market

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February 19, 2015

The median size of newly built homes in the U.S. registered 2,385 square feet in the fourth quarter of 2014, down from 2,414 in the third, The Wall Street Journal Reports.

This data, obtained from the Commerce Department, shows a slow shift in the type of homes builders are constructing.

According to The Wall Street Journal, builders focused mostly on constructing “increasingly larger, more expensive homes to cater to the better-heeled buyers with the capital and credit to buy homes” for much of the recovery.

Starting last year, entry-level buyers started to step in from the sidelines, which led to builders constructing a larger number of slightly smaller, less expensive homes.

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