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US Housing Market Hit by Shrinkflation

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Shrinkflation has come for the U.S. housing market, according to a recent study that found that homes are getting smaller but more expensive.

Shrinkflation is hitting American homebuyers hard, especially in the C, as a recent study found people are now paying more for smaller properties.An analysis conducted by USA TODAY Homefront using data from Realtor.com found that the median American home is now 128 square feet smaller than five years ago, and yet it costs $125,000 more.Shrinkflation, by definition, is what happens when companies reduce a product's amount or volume per unit without changing its retail price.

'Faced with these challenges, builders may be forced to either raise home prices or reduce square footage to maintain some level of affordability for potential buyers.'Seven of the 10 metros with the most significant size reductions are in the South, with four in North Carolina alone. Here's a list of the top 10 metros with shrinking home size, with the percentage change of their median square footage between 2019 and 2024. Colorado Springs, CO: -21.

 

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