With the housing market slowing down, home builders are tailoring their home designs to be smaller and less costly. According to MSNBC, relentless downward pricing pressure from a large inventory of preowned and foreclosed homes for sale is driving the trend. Los Angeles-based home builder KB is launching a new line of homes that start at 1,230 square feet and are priced at a little over $200,000, which is quite different from their previous line of homes that featured 3,400 square feet buildings priced at $450,000. Builders are also favoring an open concept where the living room and dining room are joined in one big room, rather than walled off from one another.
Credit: MSNBC article