With the average size of new American homes at record levels, just how many big homes have been built in recent years?
As a result, the market for smaller homes, of 1,400 square-feet and less, has shrunk to just 4% of homes built. That compares with 9% in 2005…
Meanwhile, extremely large houses — 4,000 square feet and up — have been making up a much larger slice of the new homes built.
Last year, these mega homes accounted for more than 9% of new homes. In 2005, they represented 6.6% of homes built.
Houses that are a little smaller but still verging on mansion territory, those between 3,000 and 4,000 square feet, made up 21.7% of new homes in 2013, up from 15.6% in 2005.
So these are changes in the housing market: more large homes built in recent years, fewer small houses constructed. But, are they big changes? The decrease in homes under 1,400 square feet is 5%, the rise in homes over 4,000 square feet is just over 3%, and the increase in homes three to four-thousand square feet is somewhat bigger at 6%. Does this mean McMansions are back? The data is up for interpretation with figures that could likely support either side: there are shifts taking place versus the percentage changes are limited.