@barbarakorabel: What Smaller U.S. Homes Could Mean for Buyers Over the last decade, we've seen a clear shift in the size and affordability of new single-family homes across the U.S. The average home sold has downsized—from 2,700 to 2,400 square feet—while the price per square foot has surged by about 72%. By 2025, one in four new homes was under 1,800 square feet, compared to just one in six ten years ago. At the same time, homes 3,000 square feet or larger became less common, dropping from roughly one-third to one-fifth of new builds. Builders are responding to higher land, labor, and material costs by offering more compact designs, keeping price points in reach as mortgage rates hover between 6% and 7%. For those who are budget-conscious or entering the market for the first time, these smaller homes can make down payments and monthly expenses more manageable. Even so, the rise in price per square foot means affordability remains an ongoing challenge. #newyorkrealestate #newyorkrealestateagent #newyorkrealestatebroker #longislandrealestate #hamptonsrealestate #nyrealestate #realestatenyc #realestateny #manhattanrealestate #compassny

There are no more comments for this video.

To see more videos from user @barbarakorabel, please go to the Tikwm homepage.