The Average New Home Is Getting Bigger

Of the 569,000 new single-family homes that were built in 2013, most had air conditioning and two or more stories, according to a joint report released by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. The annual report collects data on single-and multi-family housing built and sold in the last year. Among the highlights of this year’s Characteristics of New Housing Report, the average size of a new single-family home was 2,598 square feet, even bigger than during the housing-bubble era when larger homes were more popular. By comparison, the average new home built in 1983 was 1,725 square feet. New houses built last year also had more bedrooms, with 251,000 having four or more and only 59,000 having two or fewer bedrooms. Similarly, houses with three or more bathrooms outpaced those with one and one-half bathrooms or less. The majority of new homes sold in 2013 had 2-car garages and 207,000 had at least one fireplace. The data reflects recent trends indicating that the higher end of the housing market is booming, while the market for first-time buyers and smaller homes lags behind. More here.

Michael Rosenbaum


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