New Homes Big in Size not Price

The average size of a new home in Great Phoenix area in Nov 2015 was 2,494 square feet while the average size of a resale was 2,036 square feet. This gap (new homes 22% larger than the normal resale) suggests that homebuilders have shifted away from the entry level market toward the “move up” market. This also helps explain the relatively higher total new home price (31% higher than that of resales) while the average price per square foot is only 3% higher.

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