New research suggests smaller homes are "in." MarketWatch reports:
The average size of homes started in the third quarter of 2008 was 2,438 square feet, down from 2,629 square feet in the second quarter, according to the U.S. Census Bureau. Similarly, the median size of homes started in the third quarter was 2,090, down from 2,291. The statistics confirm what the housing industry has suspected for a while.
The story lists other trends, including:
- Fewer luxuries
- Green elements
- Getting organized
- Practical appliances