Single-Family Home Size Grows03-09-22 | Economic News
Single-Family Home Size Grows
Square Footage 6.3 Percent Larger by Staff
A recently released NAHB survey shows that median single-family square footage increased to satisfy the post pandemic housing trends.
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A recently released NAHB survey shows that median single-family square footage increased to satisfy the post pandemic housing trends.
According to fourth quarter 2021 data from the Census Quarterly Starts and Completions by Purpose and Design and National Association of Home Builders (NAHB), median single-family square floor area increased to 2,338 square feet. Average or mean, square footage for new single-family homes increased to 2,561.
Recession lows and on a one-year moving average basis, the average new single-family home is 6.3 percent higher at 2,537 square feet. Meanwhile, the median size is 10 percent higher at 2,312 square feet. Home size from 2009 to 2015 grew while new entry level construction dipped. Between 2016 and 2020, home size declined as more starter homes were built.
NAHB now expects home sizes to continue to grow due to the post Covid-19 world preferences due to work-from-home trends.