The average size of new single-family homes completed in 2010 got smaller, a trend expected to continue for several years, according to the National Association of Home Builders. In 2010, completed homes measured an average of 2,377 square feet, down about 3 percent from 2009, the Wall Street Journal reported. By 2015, builders expect the average home size to shrink to just 2,152 square feetMore than half of builders expect to build smaller and lower-priced models in 2011. However, not all experts agree that oversized homes are on their way out. [more]

From left, Realogy franchise heads: Gary Malin of Citi Habitats, Pamela Liebman of the Corcoran Group, Tom Kunz of Century 21

Real estate giant Realogy, parent company of the Corcoran Group, Citi Habitats and Century 21, has managed to cut its net losses for 2009 to $262 million, a minor bump in the road compared to the $1.9 billion loss posted for 2008. Cost-cutting accounted for the reduced losses, which came in spite of an overall 17 percent drop in revenue, to $3.9 billion, for the year. The last three months of the year foreshadowed further improvements for the company, with revenue up 11 percent for the period over 2008, and transactions up 18 percent for the company’s Century 21, Coldwell Banker, ERA, Sotheby’s International Realty and Better Homes and Gardens Real Estate franchises. In September last year, Realogy had appeared close to bankruptcy before raising $515 million in new loans that helped reduce its senior debt, thanks in large part to billionaire investor Carl Icahn. [Inman News] [more]

From the February issue: The New York City real estate world has closely followed as brokerages here have downsized and shuttered offices. But just north of the city, in Westchester, the real estate industry has quietly seen a shift of its own. Indeed, some say the brokerage world there has been irrevocably altered during the downturn as some firms have announced closures, and others have set up shop or merged with larger corporate entities, poaching agents along the way. The biggest shake-up, of course, was Sotheby’s International Realty’s October decision to terminate its presence in the county altogether. Sotheby’s sold four of its offices — its three “golden triangle” offices in Scarsdale, Rye and Larchmont, as well as one in Chappaqua — to an affiliate, William Pitt Sotheby’s International Realty. In addition, it shut down a fifth office in Katonah, farther north in Westchester. That follows Better Homes and Gardens Rand Realty, which has seven offices in Westchester with roughly 340 agents, joining the Realogy umbrella at the end of April.  [more]