Survey: Average New Single-Family Home Shrinks in 2016December 8th, 2017 by Editor
According to the U.S. Census Bureau’s recently published Survey of Construction, the median size of a completed single-family home was 2,422 square feet in 2016, down from the 2015 average of 2,689 square feet. That could have implications for the new-construction side of the door and window industry.
In 2016, 27 percent of new houses were between 1,800 and 2,399 square feet, and 21 percent were between 2,400 and 2,999 square feet. About 19 percent were between 3,000 and 3,999 square feet, and 11 percent were bigger than 4,000 square feet.
The median sales price of new single-family homes sold in 2016 was $307,800, while the average sales price was $360,900. Of the 561,000 single-family homes sold in 2016, 498,000 were detached homes and 63,000 were attached homes.
Of the 738,000 single-family homes completed, about 44 percent were one story, 51 percent were two stories and 5 percent were three stories or more. Roughly 200,000 had a full or partial basement.
Of note to makers of sliding doors: About 65 percent of homes had a porch, about 58 percent had a patio and 21 percent had a deck. The totals exceed 100 percent because many homes have a combination of two or more of these indoor-outdoor living features.
Among the more than 13,000 multifamily buildings completed in 2016, 2,000 had four or more floors (those structures were home to 167,000 units), and 1,000 had 50 units or more.
The median size of multifamily units built for rent was 1,085 square feet, while the median of those built for sale was 1,706 square feet.