New Homes Are Much Bigger, More Expensive
The growing size of new American homes has helped push new-home prices higher, writes Nick Timiraos for The Wall Street Journal.
Last year, new homes sold for an average of $343,000, which is more than double what they sold for in 1970 after adjusting for inflation.
Economists at CoreLogic concluded that around half of the 18 percent gain in new-home prices between 2010 and 2013 came from changes in the size, amenities, and quality of new homes.
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