Inflation is hard-felt by typical Americans, even if it seems to be mostly under control on paper. It’s hit the housing market too, only in the form of shrinkflation. Homes are getting smaller—and more costly.
In fact, they’re hitting levels we haven’t seen since 2009 and 2010, after the Great Recession. According to an analysis from research firm Apollo, the median newly built single-family home is about 2,150 square feet, down 12% from a 2016 peak of 2,500 square feet.
