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NAHB’s Eye on Housing is reporting that the size of new single-family homes continued their trend of decreasing in size during the fourth quarter of 2016. According to the report, the median single-family square floor area was 2,453 square feet, and the average (mean) square footage for new single-family homes was 2,661 square feet. Bottom line; over time, houses are just plain getting bigger…
“The post-recession increase in single-family home size is consistent with the historical pattern coming out of recessions. Typical new home size falls prior to and during a recession as some home buyers tighten budgets, and then sizes rise as high-end homebuyers, who face fewer credit constraints, return to the housing market in relatively greater proportions.”
Click here to read the full report at the NAHB’s Eye on Housing blog.