For two consecutive quarters the average size of new single-family homes has declined. According to third quarter 2014 data from the Census Quarterly Starts and Completions by Purpose and Design and NAHB analysis, average single-family square floor area decreased from 2,651 to 2,601 square feet, while the median fell from 2,472 to 2,414 square feet.
NAHB states that this could be a sign that more first time home buyers are entering the market. Typically when first time home buyers enter the market home size continues to drop.
Credit: NAHB
According to NAHB, on a one-year moving average, the recent trend of increasing size during the post-recession period appears to have cooled since the start of 2014. However, current levels remain higher than the pre-recession period. The average size of new single-family homes has increased 12% to 2,659 square feet, while the median size has increased almost 17% to 2,457 square feet.
