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At Cardinal Fields, the Airston Group still offers its larger homes with 4,000 square feet, but now it also offers homes with 1,800 to 2,500 square feet.

“These smaller homes are still livable, but they are also more affordable,” says Mr. Guaglianone. “All three of these new models still have four bedrooms, but the kitchen, the secondary bedrooms and even the master bedroom and bath are all very slightly smaller. So instead of a 16-by-20-foot living room, they will have a 12-by-14-foot living room. We’ve taken some of the opulence out, but we still offer a home that’s appealing and attractive.”

Mr. Guaglianone says that buyers at this community can always opt to bump out the rooms with extensions and even add a three-car garage. He says they are focused first right now on affordability and the possibility of future appreciation.

“Buyers are really focused right now on the deal and the price,” says Miss Rosenstein. “They are scared, and they don’t want to overshoot their budget. But this happens every time the market shifts. So, perhaps we will see homes getting bigger again. If we do, it will be a gradual process that could take fifteen years or more.”