Tag Archive for ‘single-family detached’

Square Foot Prices More than Double Inflation in 2022

Median square foot prices (excluding record-high improved lot values) for new for-sale single-family detached (SFD) homes started in 2022 increased 18%, according to NAHB’s analysis of the latest Survey of Construction data. Increases for square foot prices in new custom SFD homes were similarly high, averaging 19%, more than double the US inflation of 8% registered by the CPI the… Read More ›

Lot Values Surge at Record Breaking Pace

Lot values for single-family detached homes started in 2020 surged 18%, according to NAHB’s analysis of the Census Bureau’s Survey of Construction (SOC) data. As a result, the median lot price reached a new record high of $53,000. Though an 18% jump in lot values is unprecedented, it is consistent with other significant building material price hikes and undeniable supply… Read More ›

How Affordable is the New Home Premium?

Earlier we published a post highlighting lower operating costs per dollar value for new homes. This post takes the analysis a step further and shows that home buyers can afford to pay a 36% premium for a new single-family detached house, compared to the one built before 1960, simply because it is new and has lower operating and maintenance costs…. Read More ›

Operation Costs per Dollar Value Lower for New Homes

New NAHB research based on the latest 2019 American Housing Survey (AHS) shows that, on average, homeowners spend around $9,240 per year to operate and maintain a single-family detached home. This includes property taxes, insurance, maintenance and utilities, with property taxes being the costliest component. Annual operating costs increase consistently with household income, home size and value. When measured as… Read More ›

Where are the Largest Homes Built?

We previously reported a declining trend in new single-family home size that is likely to reverse during the post pandemic years. NAHB’s analysis of the 2019 Survey of Construction (SOC) data shows the pre-Covid19 trend of declining home size has been universal across the US regions. Nevertheless, regional differences in new home sizes exist with some of the largest single-family… Read More ›

Lot Size Remains Low in 2018

The median lot size of a new single-family detached home sold in 2018 stands at 8,567 square feet, or just under one-fifth of an acre. This is just 7 square feet larger but statistically not different from the 2017 median. In 2015, the median lot size fell under 8,600 square feet for the first time since Census Bureau’s Survey of… Read More ›

Examining the Spatial Distribution of Rental Housing

With disruption to home construction from the Great Recession and more recently, declining affordability of homeownership, the number of renters in the US has expanded, reaching 109 million in 2017 or 34 percent of the population (up from 89 million and 30 percent in 2007). As renting becomes more common, it is important to examine the types of rental structures… Read More ›

Lot Size Remains Record Low

The median lot size of a new single-family detached home sold in 2017 stands at 8,560 square feet, or just under one-fifth of an acre. This is just 2 square feet smaller but statistically not different from the 2016 median. In 2015, the median lot size fell under 8,600 square feet for the first time since Census Bureau’s Survey of… Read More ›

Lot Size is at a New Record Low

The median lot size of a new single-family detached home sold in 2016 stands at 8,562 square feet, or just under one-fifth of an acre. This is a new record low and a small decline since 2015, when the median lot size fell under 8,600 square feet for the first time since Census Bureau’s Survey of Construction (SOC) started tracking… Read More ›