2022 Boise Idaho Real Estate Blog

Has the economy curbed our appetite for square feet in a new home?

Main Idaho Real Estate Insights
A recent survey by the National Association of Home Builders (NAHB), reveals four interesting facts about 2011 new home construction.

Many thought that the recession would reduce the amount of home we demand in a world that is also trying to become more energy efficient and as our assets had shrunk. Unfortunately; Americans are becoming more home-bound so having a lot of space took priority. Here is a look at what Home Builders built in 2011-

  • The average size of a new home bumped up to 2,522 square feet.
  • 42% of new homes had at least four bedrooms.
  • 28% of new had at least three bedrooms.
  • 30% of new homes had finished basements.

The survey also revealed a record low number of 429,000 new home starts for the year.

NAHB’s chief economist is forecasting a 16% increase for new home sales and single-family home starts in 2012, citing pent-up demand from households that are doubled-up or waiting to buy a home.

I am surprised that power companies are not looking for ways to crimp the size of homes being built, I thought they were struggling to keep up with demand? Many predicted that with the recession we would learn to do with less?

Did you know that in 1900 the average size home was 900 square feet and housed normally 4 to 5 people? Today these 2,500 square foot homes are housing 2 to 3 people?

What do you think?

Posted by tlangford at 2/21/2012 1:14:00 PM

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