New Single-Family Home Sizes Are Stabilizing and Starting to Grow

According to Q3 2020 data from the US Census Bureau’s Quarterly Starts and Completion by Purpose and Design report, and with analysis provided by the National Association of Home Builders (NAHB), after years of steady decline, new home sizes appear to be finally stabilizing and perhaps even growing. In Q3, the median single-family size has increased to 2,274 square feet. While the average (mean) square footage for new single-family homes has grown to 2,484 square feet. Going forward, the NAHB expects home size to increase, given a shift in consumer preferences for more space due to the increased use and roles of homes (for work, for study) in the post-Covid-19 environment.