According to the National Association of Home Builders, rising interest rates and lower housing affordability thresholds have started to show up in the size of newly-built homes.
During the COVID-19 epidemic, home sizes expanded as homeowners took advantage of low borrowing rates and wanted more domestic space for home offices and schooling. The converse is currently true, as financial constraints reduce home sizes.
The median single-family square foot area is 2,261 square feet, according to NAHB’s study of Census Quarterly Starts and Completions by Purpose and Design. According to NAHB, the average (mean) square footage was 2,469 square feet.
