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Study: Average Size of New Home Drops 9% in Q3 2008
Average size of new home was 2,438 square feet in Q3 2008, down from 2,629 square feet in Q2 2008, according to the U.S. Census Bureau.
The average size of a new home in Q3 2008 was 2,438 square feet, a 9 percent drop from 2,629 square feet in Q2 2008, according to the U.S. Census Bureau.
Likewise, the median size of a new home in the third quarter of 2008 was 2,090 square feet, down from 2,291 in the spring of 2008.
New home sales dropped 2.9 percent in November 2008, and the National Association of Home Builders (NAHB) predicts new home sales will continue to plummet in 2009.
Finally, some sense appears to have arisen in the minds of new home buyers and homebuilders! Smaller homes mean more efficient homes with lower HVAC costs and more efficient use of space. Maybe some of that money can now be spent on electronics instead of 400-square-foot closets off the master suite.
I recall visiting model homes in Dallas years ago with closets that were literally half the size of my then-home in Redondo Beach, Calif. All I could think about was how much it would cost to cool that place during a hot Texas summer.
At the International Builders Show in Las Vegas, the NAHB wondered why the drop in size hadn't occurred sooner, according to MarketWatch.
And smaller homes don't necessarily mean fewer electronics. According to a joint NAHB/Better Homes & Gardens study, "Wii-sized rooms" are all the rage.
Likewise, the median size of a new home in the third quarter of 2008 was 2,090 square feet, down from 2,291 in the spring of 2008.
New home sales dropped 2.9 percent in November 2008, and the National Association of Home Builders (NAHB) predicts new home sales will continue to plummet in 2009.
Finally, some sense appears to have arisen in the minds of new home buyers and homebuilders! Smaller homes mean more efficient homes with lower HVAC costs and more efficient use of space. Maybe some of that money can now be spent on electronics instead of 400-square-foot closets off the master suite.
I recall visiting model homes in Dallas years ago with closets that were literally half the size of my then-home in Redondo Beach, Calif. All I could think about was how much it would cost to cool that place during a hot Texas summer.
At the International Builders Show in Las Vegas, the NAHB wondered why the drop in size hadn't occurred sooner, according to MarketWatch.
And smaller homes don't necessarily mean fewer electronics. According to a joint NAHB/Better Homes & Gardens study, "Wii-sized rooms" are all the rage.
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About the Author
Jason has covered low-voltage electronics as an editor since 1990. He joined EH Publishing in 2000, and before that served as publisher and editor of Security Sales, a leading magazine for the security industry. He served as chairman of the Security Industry Association’s Education Committee from 2000-2004 and sat on the board of that association from 1998-2002. He is also a former board member of the Alarm Industry Research and Educational Foundation. He is currently a member of the CEDIA Education Action Team for Electronic Systems Business. Jason graduated from the University of Southern California.
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It’s still not enough. Contractors need to start building smaller (1,400-1,900 sq ft) more affordable homes if they expect to move any significant amount of product in the near future.