Homebuilders are responding to housing affordability issues by constructing smaller homes, with the median size of new single-family homes decreasing to 2,146 square feet—300 square feet smaller than a decade ago. This trend includes shrinking lot sizes and reflects a broader effort to address elevated construction costs. Despite these reductions, homebuyers remain adamant about keeping kitchens, bathrooms, and closets spacious, favoring features like islands and walk-in pantries. Recent surveys indicate a clear preference for maintaining these essential areas while reducing size in other parts of the home.
"Elevated construction costs are driving builders to try to meet their buyers where they're at in terms of housing affordability."
"They said, take the square footage from the home office and the dining room and the living room. But for God's sake, stay away from the kitchen, the closets and the bathrooms."
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