According to first quarter 2022 data from the Census Quarterly Starts and Completions by Purpose and Design and NAHB analysis, median single-family square floor area inched down to 2,310 square feet. Average (mean) square footage for new single-family homes decreased to 2,512.
An expected impact of the virus crisis is a need for more residential space, as people use homes for more purposes, including work.
Since the Great Recession lows (and on a one-year moving average basis), the average size of new single-family homes is now 6.3% higher at 2,537 square feet, while the median size is 10% higher at 2,318 square feet.
NAHB Chief Economist Robert Dietz provides a forecast for changes in home sizes in this Eye on Housing post.
*Note: All articles have been redistributed from NAHBnow.com*