Eye On Housing
An expected impact of the virus crisis is a need for more residential space, as people use homes for more purposes including work. Recent data confirms this impact on the market continues to occur. According to third quarter 2021 data from the Census Quarterly Starts and Completions by Purpose and Design and NAHB analysis, median single-family square floor area increased… Read More ›
An expected impact of the virus crisis is a need for more space, as people use their homes for more purposes. And while this measure has not increased significantly yet, new home size did level off in 2020 after years of decline. According to fourth quarter 2020 data from the Census Quarterly Starts and Completions by Purpose and Design and… Read More ›
An expected impact of the virus crisis is a need for more space, as people use their homes for more purposes. And while this measure has not increased significantly yet, new home size appears to be leveling off after years of decline. According to third quarter 2020 data from the Census Quarterly Starts and Completions by Purpose and Design and… Read More ›
New single-family home size trended lower during the second quarter 2020 at the beginning of what we are forecasting will be a pivot to larger home size over the next two years. According to second quarter 2020 data from the Census Quarterly Starts and Completions by Purpose and Design and NAHB analysis, median single-family square floor area ticked down to… Read More ›
An elevated rental share of multifamily construction is holding typical apartment size below levels seen during the pre-Great Recession period. As multifamily developers build more for-sale housing units in the years ahead, the average size of multifamily homes is likely to rise. According to third quarter 2019 data, the average per unit square footage of multifamily housing construction starts was 1,133, off from… Read More ›
New single-family home size decreased during the second quarter of 2019 as interest rates declined. According to second quarter 2019 data from the Census Quarterly Starts and Completions by Purpose and Design and NAHB analysis, median single-family square floor area ticked down to 2,245 square feet. Average (mean) square footage for new single-family homes declined to 2,465 square feet. On… Read More ›
After increasing and leveling off in recent years, new single-family home size continued along a general trend of decreasing size during the start of 2017. This change marks a reversal of the trend that had been in place as builders focused on the higher end of the market during the recovery. As the entry-level market expands, including growth for townhouses, typical… Read More ›
Results from NAHB’s What Home Buyers Really Want survey and a combination of Census Bureau/HUD data show that new homes generally do a good job of satisfying the typical buyer’s desire for living space, especially when compared to existing homes on the market. A simple way to get an idea of how new and existing homes match up with buyer… Read More ›