Homes are Shrinking Again
Posted by Florida Realty Marketplace on
New single family homes are have been shrinking, according to the National Association of Homebuilders (NAHB).
According to Q1 2017 data from the Census Quarterly Starts and Completions by Purpose and Design and NAHB analysis, median single-family square floor area was slightly lower at 2,389 square feet. Average (mean) square footage for new single-family homes declined to 2,628 square feet.
According to the data, home sizes reached a plateau in 2015 and 2016 after experiencing a steady rise post-recession, but have started to drop off since. The current average home size is 2,624 square feet, 10 percent higher than the cycle low. The median size is 14 percent higher, at 2,402 square feet.
NAHB
The post-recession increase in…
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