A Phoenix real estate agent said a buyer looking at a $750,000 home had 45 to look at, but someone who wanted a $400,000 home only had three or four to check out. The NAHB noted the size of the average new home in 2015 increased to 2,720 square feet, as builders were reluctant to enter the starter home market.
As the more expensive home market stalls, said Barclay’s analyst Stephen Kim, builders will begin constructing lower-priced homes. ##
(Image credit: housingwire–housing slides)
Article submitted by Matthew J. Silver to Daily Business News-MHProNews.