Any analysis about the price per square foot? Is this simply because builders are only building smaller, cheaper houses?
Our firm has listed a foreclosed home on 4.5 acres, about 5,000SF with issues for $119,000.00. We have had super activity with showings, but not many buyers can afford to make repairs. My contention is: who would want to heat and clean this monster?
That’s an existing house, though. This report is about new homes. The price drop is large, unless there are other factors involved—like smaller houses with cheaper materials being built.