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Sales Increase for Large Homes: 'People Want Bigger'

Still, small and medium-sized homes saw their prices increase slightly more than large homes, likely due to buyers prioritizing affordability.

Homebuyers are searching for larger houses, as they look for more space to live and work amid the pandemic.

The typical home that sold in the four weeks ending Aug. 16 was 3.7% larger (1,772 square feet) than the typical home that sold a year earlier, according to a report from real estate brokerage firm Redfin. That’s in contrast with the 0.4% average year-over-year growth rate from 2015 to 2019.

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Christine Simmons

Christine Simmons

Christine Simmons writes about the New York legal community and the business of law. Email her at [email protected] and find her on Twitter @chlsimmons

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