Though some buyers are demanding larger homes, overall, home sizes are decreasing as builders shift to meet the need for entry-level product. Median single-family home sizes dipped slightly from the first to the second quarters of 2016, the first post-recession contraction, CNBC reported.
The trend was driven in part by a desire to live closer to community cores, which typically restricts affordable options to smaller lots and smaller homes. Tighter lending also could be a contributing factor.
