According to Yardenna Alexandre, excavation director on behalf of the Israel Antiquities Authority, “The discovery is of the utmost importance since it reveals for the very first time a house from the Jewish village of Nazareth and thereby sheds light on the way of life at the time of Jesus. The building that we found is small and modest and it is most likely typical of the dwellings in Nazareth in that period. From the few written sources that there are, we know that in the first century CE Nazareth was a small Jewish village, located inside a valley. Until now a number of tombs from the time of Jesus were found in Nazareth; however, no settlement remains have been discovered that are attributed to this period”.
The Israel Ministry of Foreign Affairs has this photo:
It is nice to see that, so far, none of the news stories are connecting this story to a specific person or family (as my headline does in an intentionally facetious way). Now if they'd found a tunnel in the city of David, I'm sure they would have quickly speculated a connection to David's conquest of the city. Oh, wait . . .
HT: Wild Wild West, Todd Bolen