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American Big Home!
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Total visits: 34
Posted on: 11th Mar 2014
RealtyTrac - size of new homes getting bigger
As the economy slowly recovers, America�s love affair
with oversized homes continues to grow. According to a
new Census Bureau report, the average and median size
of a new home has grown significantly in the past few
years. When the housing bubble burst in 2007, there
was a glut of unsold inventory and the size of newly
built homes began to shrink. In 2008 and 2009, the
median size of a new home fell for two years, before
heading up again in 2010, Census Bureau figures show.
Last year, the average size of new houses built
increased to an all-time high of 2,679 square feet, and
the median-sized new home set a new record of 2,491
square feet. Over the last 40 years, the average home
has increased in size by more than 1,000 square feet,
from an average size of 1,660 square feet in 1973 to
2,679 square feet last year. Likewise, the median-sized
home has increased in size by almost 1,000 square feet,
from 1,525 square feet in 1973 to 2,491 in 2013. In
percentage terms, the average home size has increased
by 61.4% since 1973, while the median home size
increased by 63.3%. Not only are homes being built
today bigger than those built in earlier decades, they
also have almost more of everything � different types
of rooms such as more bedrooms and bathrooms, more
amenities such as washers and dryers, garbage disposals
and fireplaces � and more safety features such as
smoke and carbon monoxide detectors and sprinkler
systems. It looks like those who proclaimed the death
of suburbia and the McMansion were premature. In 2010,
homes started growing again. And homes are getting
bigger while households are getting smaller.
I will see you at the top!
Dan
As the economy slowly recovers, America�s love affair
with oversized homes continues to grow. According to a
new Census Bureau report, the average and median size
of a new home has grown significantly in the past few
years. When the housing bubble burst in 2007, there
was a glut of unsold inventory and the size of newly
built homes began to shrink. In 2008 and 2009, the
median size of a new home fell for two years, before
heading up again in 2010, Census Bureau figures show.
Last year, the average size of new houses built
increased to an all-time high of 2,679 square feet, and
the median-sized new home set a new record of 2,491
square feet. Over the last 40 years, the average home
has increased in size by more than 1,000 square feet,
from an average size of 1,660 square feet in 1973 to
2,679 square feet last year. Likewise, the median-sized
home has increased in size by almost 1,000 square feet,
from 1,525 square feet in 1973 to 2,491 in 2013. In
percentage terms, the average home size has increased
by 61.4% since 1973, while the median home size
increased by 63.3%. Not only are homes being built
today bigger than those built in earlier decades, they
also have almost more of everything � different types
of rooms such as more bedrooms and bathrooms, more
amenities such as washers and dryers, garbage disposals
and fireplaces � and more safety features such as
smoke and carbon monoxide detectors and sprinkler
systems. It looks like those who proclaimed the death
of suburbia and the McMansion were premature. In 2010,
homes started growing again. And homes are getting
bigger while households are getting smaller.
I will see you at the top!
Dan
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