New-home construction is in the doldrums, but those homes that are being built are taking up a little less room than they used to.

The average size of homes has shrunk from 2,629 square feet in the second quarter of 2008 to 2,438 square feet in the third quarter, MarketWatch recently reported.

The economy and the environment seem to be conspiring to change our lifestyles in many ways, and Americans are beginning to discover that good things can indeed come in small packages.

For home buyers who are struggling with the bills, here’s a trend that just makes sense. Not only will your purchase price be lower, but you’ll enjoy other cost savings for as long as you own your home. It’ll cost you less to heat a smaller space in winter and to cool it in warmer months. You’ll pay less in property taxes on a smaller house, and you’ll spend less money furnishing a smaller space, too.

Design trends include a continued demand for energy efficiency throughout the home, but other trends are growing in popularity, too. Many of these reflect a desire to maximize the use of space in an environmentally-friendly way, including:

• Multi-purpose family rooms
• Outdoor kitchens and entertainment areas
• An emphasis on affordability
• Natural lighting
• Fewer luxury details, such as granite countertops or high ceilings
• More practical usage of wall space and entryways
• Freezers (In contrast to declining sales of other big appliances, freezer sales are up, reflecting the growing inclination to stretch the household budget via lower-priced bulk purchases. At the same time, there’s a greater interest in home gardens.)