Average Home is 300 sq ft Bigger Since 2009

The growth in the average size of a newrnhome paused briefly at the beginning of the recession as Americans retrenchedrnin a lot of ways, but times have changed.   According to Census Bureau data presented at thernNational Association of Home Builders’ (NAHB) International Builder’s Show earlierrnin the month, the average home size has increased by over 300 square feet sincern2009, from 2,362 square feet in 2009 to 2,679 square feet in 2013.  </p

Things have changed within that square footagernas well.  New homes have more bedrooms,rnmore bathrooms, and more amenities than they did in 2009.  </p<ul class="unIndentedList"<liForty-eightrnpercent of homes built in 2013 had four bedrooms; 34 percent had that many inrn2009.</li<liThernpercentage of homes with three or more full baths has gone from 23 percent inrn2010 to 35 percent in 2013.</li<liTwenty-twornpercent had three-car (or more) garage bays compared to 16 percent in 2010.</li<liTwo-storyrnhomes have gone from a slight majority – 51 percent of new homes – in 2009 torn60 percent in 2013.</li</ul

Amenities most likely to be found in newrnsingle-family homes built today are a walk-in closet in the master bedroom,rnlow-e windows, a laundry room and a great room. rnGranite countertops, double sinks and a central island are kitchenrnfeatures favored by many builders as are nine-foot or higher ceilings, a frontrnporch, exterior lighting, and a patio. rnEnergy-Star rated appliances and windows are also featured in manyrnhomes.  </p

As homes get bigger, so does the averagernsales price, rising from $248,000 in 2009 to $318,000 in 2013. Consequently,rnaccording to Rose Quint, NAHB assistant vice president for survey research, “Itrnrequires a high credit score and a nice income to qualify for a mortgage.”rn  Quint said that the spread between thernaverage Experian credit score of all U.S. consumers and the average homernborrower’s score has risen from 33 points in the early 2000s to 58 points inrn2013.  The median income of new-homernbuyers has climbed as well, from $91,768 in 2005 to $107,607 in 2011. </p<pDuring the samernperiod, the number of new-home sales has dramatically declined, from 1.28rnmillion to 306,000. "There are not as many people who have the income thatrncan qualify for a new home," said Quint.

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