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New Homes Are Getting Bigger

The size of the typical American household may be getting smaller, but new Census data shows new homes are getting bigger.

The average size of a newly built home is now 2,687 square feet, according to the Census Bureau’s annual survey of American housing. The census also says that 31 percent of newly constructed homes are 3,000 square feet or more.

Wealthy people are driving that new-house market and builders are giving them what they want, according to the New York Times’ The Upshot blog.

Houses are being built with more bedrooms and bathrooms, too. The size of the average household has shrunk to 2.58 people, but 47 percent of new homes have four or more bedrooms, and 38 percent of them have three bathrooms or more. Demand for the extra bathroom shot up after the Great Recession ended.

newyorkupshotgraphic

Some highlights from the Census’ Characteristics of New Housing report:

Of the 648,000 single-family homes completed in 2015:

  • 600,000 had air-conditioning.
  • 66,000 had two bedrooms or less while 282,000 had four bedrooms or more.
  • 25,000 had one and one-half bathrooms or less and 246,000 homes had three or more bathrooms.
  • 122,000 had fiber cement as the principal exterior wall material.
  • 183,000 had a patio and a porch and 14,000 had a patio and a deck.
  • 137,000 had an open foyer.

Of the 501,000 single-family homes sold in 2015:

  • 453,000 were detached homes, 49,000 were attached homes.
  • 327,000 had a 2-car garage and 131,000 had a garage for 3 cars or more.
  • 200,000 had one story, 278,000 had two stories, and 24,000 had three stories or more.
  • 348,000 were paid for using conventional financing and 42,000 were VA-guaranteed.

Sources: RealtorMag and New York Times

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