Data from the Census of Quarterly Starts and Completions, conducted through the Purpose and Design Survey, indicates that new homes are built with more square feet than what they were years or even months ago. At the end of the third quarter of 2013, the average square footage for homes under construction was 2,701, which is about a 12% increase from the year before. Such increases are typical after recessions. Builders generally build what the buyer market is demanding. During a recession, buyers tend to gravitate toward smaller homes. The size of the US new homes is likely the largest in the industrialized world. The smallest? Probably Hong Kong, which recently had an average new home size of 484 square feet. All should consider what is most important when considering housing options.
Author : Rob Brooks