Why New Homes in the U.S. Are Getting Smaller: Insights for Homebuilders
In 2023, newly constructed homes shrank to an average size of 2,411 square feet or a median of 2,179 square feet, marking the smallest dimensions in 13 years, as reported by the National Association of Home Builders.
According to CNBC, the typical newly built house on the market these days is smaller than those for sale a decade ago. Whether that is a good or bad sign will depend on your priorities for your future home.
In the first quarter of 2024, a single-family home newly under construction had a median 2,140 square feet of floor space, according to data from the U.S. Census Bureau. That is down from a median of 2,256 square feet in the first quarter of 2023, according to the data.
The new figures make for the smallest new homes since the second half of 2009, the National Association of Home Builders found in a May analysis.