Home Sizes Rise With Virus-Fueled Demand for More Space
WASHINGTON, DC — Single-family home sizes are reported to be rising as an offshoot of the COVID-19 pandemic, reversing a recent trend toward downsizing as homeowners are seeking additional residential space for a wider range of purposes, particularly teleworking and school-related activities.
According to second-quarter 2021 U.S. government data and analysis from the National Association of Home Builders, the median size of a newly built single-family home increased to 2,297 sq. ft. The average size for new single-family homes increased to 2,540.
Since Great Recession lows, home size rose between 2009 to 2015 as entry-level new construction was constrained, according to the Washington, DC-based NAHB. In contrast, home sizes declined between 2016 and 2020, as more starter homes were developed, the NAHB said.
“Going forward we expect home size to increase again, given a shift in consumer preferences for more space due to the increased use and roles of homes in the post-COVID-19 environment,” observed Robert Dietz, chief economist for the Washington, DC-based NAHB.
The post Home Sizes Rise With Virus-Fueled Demand for More Space appeared first on Kitchen & Bath Design News.