The median American home is now 128 square feet smaller and $125,000 more expensive than it was five years ago, reflecting a troubling trend in home affordability.
While homes in Colorado Springs shrunk the most, by 21% since 2019, prices still surged 25%, showing that smaller homes are not curbing price increases per square foot.
The phenomenon of shrinking home sizes alongside soaring prices varies widely across metro areas, with drastic changes observed, including a unique growth in the Davenport area.
Despite increasing demands for space due to work-from-home trends, smaller houses are making home affordability more challenging, as mortgage rates soar.
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