The size of the average home is shrinking. Across the United States, families are downsizing and moving closer to cities.
Fran DiBello of Cleveland didn't need a lot of room. For her, a three-story townhome has everything she could need.I really like the style of this home, she says. It's very efficient. The appliances, the heat.It also has a view of Lake Erie and an 8-minute commute to work.
Ten years ago, this neighborhood wasn't here; 10 years ago, these homes would have been over shadowed by the McMansion.A McMansion was a trophy — often times a house with five or six bedrooms when you only needed two, says Scott Phillips, real-estate agent with Keller Williams in Cleveland.
The median size of homes purchased in 2008, the most recent year for which figures are available, is 1,825 square feet. For first-time buyers it is 1,580 square feet, according to the National Association of Realtors.A majority of the homes Phillips sells are less than 1,700 square feet.
Source: USA Today