Average single-family home size decreases to 2,351 sq ft, smallest since 2009, amid 82.9% price increase.

American homes are shrinking and becoming more expensive, with the average single-family home size dropping to 2,351 square feet in Q1 2024, the smallest since 2009. Home prices surged by 82.9% from $197,433 in 2015 to $361,072 in 2024. Builders are responding by downsizing projects, eliminating hallways, and optimizing space with open floor plans and multifunctional areas to enhance affordability and usability.

October 05, 2024
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