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Survey shows buyers willing to trade square footage for amenities

Jan 12, 2017
The average size of newly-built homes decreased in 2016 – a sign that the home building industry is preparing for the coming wave of first-time buyers as Millennials begin to dip their toes into the market, according to research and survey results released by the National Association of Home Builders (NAHB). In 2015, the typical new home had 2,689 square feet. In 2016, it dropped to 2,634, according to figures supplied by the U.S. Census Bureau. That's the first drop in size since 2009, said Rose Quint, NAHB assistant vice president for survey research.

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NYS home sales post second-highest May total

Homebuyer activity remained strong in May, driving the New York State housing market to the second-highest sales total for the month with 10,348 closings. May 2018 closed sales were 8.6 percent lower than the record of 11,322 set in May 2017. The median sales price growth trend continued, increasing by 11.5 percent compared to last May, ending the month at $262,000. Click here to read more.

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