American homes shrink in size

TRD New York /
Jan.January 14, 2011 11:56 AM

The average size of new single-family homes completed in 2010 got smaller, a trend expected to continue for several years, according to the National Association of Home Builders. In 2010, completed homes measured an average of 2,377 square feet, down about 3 percent from 2009, the Wall Street Journal reported. By 2015, builders expect the average home size to shrink to just 2,152 square feet. This downsizing ends an expansion that spanned nearly three decades, when the average size peaked at 2,521 square feet in 2007. More than half of builders expect to build smaller and lower-priced models in 2011. However, not all experts agree that oversized homes are on their way out. The NAHB noted that the average size of homes started last year increased slightly in the South. An online survey by Better Homes and Gardens magazine found that about 40 percent of consumers want to increase their total home size with their next move. The median square footage of current homes is 1,864 homes, slightly below the desired 1,914 square feet. [WSJ]


Related Articles

arrow_forward_ios
US homebuilder confidence drops slightly from 18-year high

US homebuilder confidence drops slightly from 18-year high

US homebuilder confidence drops slightly from 18-year high
DC real estate lobby apprehensive about the Republican tax plans

DC real estate lobby apprehensive about the Republican tax plans

DC real estate lobby apprehensive about the Republican tax plans
Builder confidence reaches its highest reading since 2005

Builder confidence reaches its highest reading since 2005

Builder confidence reaches its highest reading since 2005
US builder confidence in single-family homes hits 11-year high

US builder confidence in single-family homes hits 11-year high

US builder confidence in single-family homes hits 11-year high
Tepid construction in September points to multifamily tumble

Tepid construction in September points to multifamily tumble

Tepid construction in September points to multifamily tumble
Placeholder image

US homebuilder optimism drops slightly but stays elevated

US homebuilder optimism drops slightly but stays elevated
New construction of "McMansions"

Despite slip in confidence, US homebuilders remain optimistic

Despite slip in confidence, US homebuilders remain optimistic
Wet bars are the new must have amenity for high-end homes

Wet bars are the new must have amenity for high-end homes

Wet bars are the new must have amenity for high-end homes
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...