From the Wall Street Journal:

The new trend in building new homes is smaller and more modest for the first time home buyers and empty nesters. The National Association of Home Builders says

After a long run-up in median new home size, peaking at 2,309 square feet in 2007,home sizes shrank to 2,091 square feet in 2009. “It’s the largest decline ever seen,” said NAHB’s chief economist David Crowe.

After this recession, home building has been fundamentally changed forever.