An About-Face for McMansions
Is the McMansion back? Or is the first-quarter record high in the median size of newly built, single-family homes a statistical blip?
Many economists are opting for the latter, given trends in the broader housing market, including construction of a greater number of smaller, affordable homes.
The median size of a home built in the U.S. in the first quarter registered 2,521 square feet, up 76 square feet, or 3%, from the fourth quarter, according to Commerce Department data released Tuesday. It was the first increase for that measure after three consecutive quarters of decline.