New Single-Family Home Size Rises

The size of a typical new single-family home rose in second quarter of 2013 continuing a post-recession trend. The recent increase in size is likely due to an atypical mix of buyers.

According to data from the Census the Quarterly Starts and Completions by Purpose and Design survey, the average and median size of single-family homes started during the second quarter actually fell somewhat from the first quarter. The average single-family square footage fell from 2,689 to 2,647, while the median declined from 2,472 to 2,441.

SF size

However, on a less volatile one-year moving average, the size of new single-family homes continued their rising trend. Since cycle lows and on a moving average basis, the average size has increased almost 10% to 2,599, while the median size has increased more than 13% to 2,382.

As noted in NAHB’s analysis of 2012 Census construction data, the recent rise in single-family home sizes is consistent with the historical pattern coming out of recessions. Home sizes fall into the recession as some homebuyers cut back, and then sizes rise as high-end homebuyers, who face fewer credit constraints, return to the housing market in relatively greater proportions.

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12 Responses to New Single-Family Home Size Rises

  1. mcnaughtonhomespa says:

    Reblogged this on McNaughton Homes.

  2. […] As the housing market picks up post-recession, one trend is catching the eye of the NAHB: single-family home sizes are increasing. In fact, the median size of new homes increased over 13% when looked at over a one-year average. This pattern lines up with historic recession exits, according to the Association–as more high-end homebuyers re-enter the market, square footage starts to rise. So what’s the current median size of a new single-family home? That would be 2,382 square feet. Roomy!  Read more. […]

  3. Westridge says:

    That’s great that more people are getting homes!

  4. […] Starts and Completion by Purpose and Design, the data for the second quarter of 2013 indicate that the average size of a new single-family home was just under 2,600 square feet, as measured on a one-year moving average. At this level, the typical size of newly built homes is […]

  5. […] for-sale and for-rent housing have left their marks on the types of homes being built. For example, the average size of a newly built single-family rose to 2,599 square feet (on a three-month moving average basis) during the second quarter of 2013, a […]

  6. […] for-sale and for-rent housing have left their marks on the types of homes being built. For example, the average size of a newly built single-family rose to 2,599 square feet (on a three-month moving average basis) during the second quarter of 2013, a […]

  7. […] price of the typical cash purchase reflects market mix issues, similar to force that have pushed up the size of a typical newly built single-family home: higher wealth buyers are in the market in greater concentration relative to other buyers, […]

  8. […] of the typical cash purchase reflects market mix issues, similar to force that have pushed up the size of a typical newly built single-family home: higher wealth buyers are in the market in greater concentration relative to other buyers, […]

  9. […] Read more on the growing single family home at NAHB’s Eye on Housing Report. […]

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