Dive Brief:
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The most expensive U.S. homes are located in New England, where the median price of a single-family dwelling is $400,000 but the average size is 2,240 square feet—among the smallest in the country, according to a National Association of Homebuilders study released Tuesday.
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The least expensive, with median sales prices in the $220,000s, are in the East South Central and West South Central areas of the country, according to the organization’s analysis of the 2013 Census Bureau Survey of Construction.
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The study also revealed vast differences among home styles, lot sizes, design and building materials, based on where a home is built.
Dive Insight:
The kinds of financing home buyers are able to get also differs according to location, the report noted. For example, 80% of 2013 buyers in the East North Central and Middle Atlantic regions tapped conventional loans, while loan applicants in the Mountain, Pacific Mountain and South Atlantic states relied more heavily on FHA-insured loans. Read the full study here.