Luxury in American homes has long been defined by size—a newly built home grew from an average of 1,660 square feet in 1973 to over 2,500 square feet today, according to the U.S. Census Bureau. Now, top-end real-estate brokers say more clients want to shave off square footage and give priority to luxe finishes, green building and smart design. Of course, some high-end homeowners define “scaling back” as going from 14,000 square feet to 10,000 square feet.
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