Supersize That House? New Homes Get Bigger
New home buyers have a big appetite for larger homes, according to preliminary data recently released by the United States Census Bureau––suggesting that home sizes set a new record in 2013.
The average size of a new home has increased more than 300 square feet in the last five years, to 2,679 square feet in 2013 from 2,362 square feet in 2009, according to the census data in a report published by the National Association of Home Builders.
The return to larger homes comes after housing sizes bottomed out in 2009.
The NAHB says builders are meeting the demands of their customers, who have a much higher credit score and a higher median income than in 2007. The average new-home sale price rose to $318,000 in 2013 from $248,000 in 2009.