New Home Size Increases as Demand for More Space Continues
The size of new single-family homes increased in the second quarter, as the pandemic has sparked a need for more living space and people continue using their homes for more purposes, particularly teleworking.
The median size of a single-family home increased to 2,297 square feet, according to data from the Census Quarterly Starts and Completions by Purpose and Design and NAHB analysis. Average square footage increased to 2,540.
The median home size consistently rose each year from 2009 to 2015, as entry-level home construction was constrained. It then declined between 2016 and 2020, as more starter homes were developed. Home sizes are expected to increase again moving forward, given the shift in consumer preferences for more space in the post-COVID-19 environment.
NAHB Chief Economist Robert Dietz provides more details in this Eye on Housing blog post.
Latest from NAHBNow
Labor
May 13, 2025
What Are the Highest Paying Jobs in Construction?Half of payroll workers in construction earn more than $60,320, compared to the U.S. median annual pay of $49,500, and the top 25% make at least $81,510, according to the latest May 2024 Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS) and analysis by NAHB. See which occupations in the construction are the highest earning.
Material Costs
May 12, 2025
Statement from NAHB Chairman Buddy Hughes on U.S.-China Tariff AgreementBuddy Hughes, chairman of the National Association of Home Builders (NAHB) and a home builder and developer from Lexington, N.C., issued a statement after the U.S. and China announced a 90-day pause on most of the tariffs each nation has imposed on one another.
Latest Economic News
Economics
May 13, 2025
Inflation Eased Again in AprilInflation slowed to a 4-year low in April while shelter inflation remained elevated. Despite the easing, inflation may pick up in the coming months as possible inflationary pressure from enacted tariffs and other policy uncertainties continues to threaten economic growth and complicate the Fed’s path to its 2% target.
Economics
May 13, 2025
Residential Mortgages Experience Weaker Demand in First QuarterOverall demand for residential mortgages was weaker while lending standards for most types of residential mortgages were essentially unchanged according to the Federal Reserve Board’s April 2025 Senior Loan Officer Opinion Survey (SLOOS).
Economics
May 13, 2025
Highest Paid Occupations in Construction in 2024Half of payroll workers in construction earn more than $60,320 and the top 25% make at least $81,510, according to the latest May 2024 Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS) and analysis by the National Association of Home Builders (NAHB). In comparison, the U.S. median annual pay is $49,500, while the top quartile (the highest paid 25%) makes at least $78,810.