Posted in Industry News
Single-Family Home Size Increased
During the first quarter of 2014, the average size of a new, single-family home increased, says a recent report from the National Association of Home Builders (NAHB). This growing trend was mainly due to a changing mix in buyers.
Data was pulled from the Census Quarterly Starts and Completions by Purpose and Design, which was then analyzed by NAHB. According to the information, average single-family square floor area rose from 2,656 to 2,736 square feet, with the median increasing from 2,465 to 2,483.
This recent rise in the size of single-family homes is consistent with what has happened before when the housing industry comes out of a recession. Naturally, home sizes decrease during an economic downturn as homebuyers reel in their spending, but then as higher-end homebuyers return to the market, home size begins to rise again as well.
Read the full article from NAHB here.
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