New homes are getting smaller. That could be big news for first-time buyers | CNN Business
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After years of saving, Jordyn Carias and her partner purchased a home for the first time last month. To find a place that didn’t break the bank, she said, they had to go smaller.

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Compared to other countries, America is known for bigger cars, portions and take-out coffee cup sizes. For most of recent history, Americans have also wanted bigger homes — but now that’s changing.

For most of the last half-century, new single-family homes kept growing. In 1973, the median size of completed single-family homes was 1,525 square feet, according to US Census data. By 2015, that number had ballooned to 2,467 square feet.

But as the cost of buying a home has exploded and McMansions have fallen out of favor, homebuilders have reversed course, building smaller homes with an eye to first-time buyers. In 2023, the median single-family home built was 2,233 square feet, down 9% from the 2015 peak, with many formal dining rooms and “bonus” rooms disappearing.

Carias and her partner ultimately settled on a roughly 920-square-foot home. To maximize space, they decided to use the basement as their primary bedroom.

  • partial_accumen
    5•1 month ago

    If they did that, they just might alleviate the massive supply shortage we ran into. That would actually be great.

    Here’s a rare example from San Antonio TX. These are small 600 sq ft homes, each with their won driveway, backyard, front yard with no shared walls with your neighbor. Priced at $135k.

    If I were renting a one or two bedroom apartment, I’d much rather buy one of these instead.

    • @ampersandrewEnglish
      2•1 month ago

      That’s awesome. I live in an apartment that’s only a smidge more than 600 sqft, so that’s a good size for one person or a couple.