Home Sizes Continue to Grow

Posted On - June 24, 2022,

The American home is getting larger. The pandemic has prompted more homeowners to want more space to spread out in, and also may have encouraged bigger households as more people live under one roof. That has led to an increase in the size of new single-family homes.

The median single-family square floor area has increased to 2,338 square feet. The average square footage for new single-family homes rose to 2,561 in the fourth quarter of 2021, according to U.S. Census Bureau data.

The average size of new single-family homes is 6.3% bigger than the lows set during the Great Recession, the National Association of Home Builders reports. The median house size is 10% higher.

“Going forward, we expect home size to continue to increase, given a shift in consumer preferences for more space due to the increased use and roles of homes—for work, among other purposes—in the post-COVID-19 environment,” Robert Dietz, the NAHB’s chief economist, writes for the association’s “Eye on Housing” blog.

Original Article : https://magazine.realtor/daily-news/2022/02/28/home-sizes-continue-to-grow

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