{"id":8218,"date":"2015-08-20T12:59:27","date_gmt":"2015-08-20T12:59:27","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=8218"},"modified":"2015-08-20T12:59:27","modified_gmt":"2015-08-20T12:59:27","slug":"new-home-sizes-are-starting-to-shrink","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/new-home-sizes-are-starting-to-shrink\/","title":{"rendered":"New-Home Sizes Are Starting to Shrink"},"content":{"rendered":"

New-Home Sizes Are Starting to Shrink<\/h2>\n
\"New-Home<\/a>

New-Home Sizes Are Starting to Shrink. Image courtesy of fantasista \/ FreeDigitalPhotos.net<\/p><\/div>\n

 <\/p>\n

The median size of U.S. homes dropped slightly in the second quarter, edging back from a record set in the previous quarter, the Commerce Department reported Tuesday.<\/p>\n

In the second quarter, the median size of a new home was 2,479 square feet \u2013 about 40 square feet smaller than the record high set in the first quarter.<\/p>\n

The smaller size may be a sign that builders are starting to focus on building more entry-level homes, The Wall Street Journal<\/em> reports. The National Association of Home Builders has predicted that first-time home buyers, who most often purchase entry-level homes, will comprise 18 percent of new-home sales this year, up from 16 percent last year. Still, that is far short of the 25 percent to 27 percent share of buyers that first-time home buyers comprised in the market from 2001 to 2005. At that time, the median size of new homes ranged from 2,051 to 2,263 square feet.<\/p>\n

But anticipating the return of first-time buyers, some builders have announced efforts to focus on the entry-level market. For example, Meritage and D.R. Horton have launched divisions to build starter homes.<\/p>\n

In the quarter ended June 30, D.R. Horton completed sales of 1,577 of its Express starter homes, which average 2,000 square feet and cost $188,000. Meritage has announced plans to expand into the entry-level market, which now accounts for 20 percent to 25 percent of its sales. Chief Executive Steven Hilton says he wants the entry-level share to rise to 35 percent in the coming years.<\/p>\n

David Crowe, chief economist with the National Association of Home Builders, predicts that the median size of new-homes will continue to shrink over the coming years as more first-time buyers enter the market. Still, it may take a long time for the national median-size figure to reflect the trend further.<\/p>\n

\u201cIt probably will take the rest of this year and next year before the first-time buyer share is sufficient to affect the median size of all new homes in a sustained manner,\u201d Crowe told The Wall Street Journal<\/em>.<\/p>\n

Source: \u201cSize of New Homes in U.S. Shrinks By One Closet,\u201d The Wall Street Journal (Aug. 18, 2015)<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

New-Home Sizes Are Starting to Shrink   The median size of U.S. homes dropped slightly in the second quarter, edging back from a record set in the previous quarter, the Commerce Department reported Tuesday. In the second quarter, the median size of a new home was 2,479 square feet \u2013 about 40 square feet smaller … <\/p>\n

Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-8218","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"\nNew-Home Sizes Are Starting to Shrink - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/new-home-sizes-are-starting-to-shrink\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/new-home-sizes-are-starting-to-shrink\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/new-home-sizes-are-starting-to-shrink\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"New-Home Sizes Are Starting to Shrink\",\"datePublished\":\"2015-08-20T12:59:27+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/new-home-sizes-are-starting-to-shrink\\\/\"},\"wordCount\":375,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"image\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/new-home-sizes-are-starting-to-shrink\\\/#primaryimage\"},\"thumbnailUrl\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2015\\\/08\\\/ID-100347170.jpg\",\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/new-home-sizes-are-starting-to-shrink\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/new-home-sizes-are-starting-to-shrink\\\/\",\"name\":\"New-Home Sizes Are Starting to Shrink - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania\",\"isPartOf\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/new-home-sizes-are-starting-to-shrink\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/new-home-sizes-are-starting-to-shrink\\\/#primaryimage\"},\"thumbnailUrl\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2015\\\/08\\\/ID-100347170.jpg\",\"datePublished\":\"2015-08-20T12:59:27+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/new-home-sizes-are-starting-to-shrink\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/new-home-sizes-are-starting-to-shrink\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/new-home-sizes-are-starting-to-shrink\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2015\\\/08\\\/ID-100347170.jpg\",\"contentUrl\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2015\\\/08\\\/ID-100347170.jpg\",\"width\":400,\"height\":300,\"caption\":\"New-Home Sizes Are Starting to Shrink. 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