Home Building Trends

Home Building Trends From 2011

The National Association of Home Builders just released some interesting new trends from 2011:  

Some of the most interesting facts about single-family homes started in 2011 include:

  • Average size rose to 2,522 square feet, up 6% from 2,381 square feet in 2010.
  • The share with 4 or more bedrooms rose to 42%, up from 36% in 2010.
  • The share with 3 full bathrooms or more jumped to 28%, up from 23% in 2010.
  • The share with a finished basement jumped to 30%, up from 25% in 2010 (basement counts towards total square footage only if finished by the builder).
  • The share with a 3-car garage or more reversed a six year trend, rising to 18% from 16% in 2010.
  • The average sales price of homes started for-sale rose to $274,400, up from $264,900 in 2010.

The average home is getting bigger and more expensive and those buying homes have had 20% to put down, a stable employment history, good credit and  a steady income.

To read the full article visit:  https://eyeonhousing.wordpress.com/2012/02/15/newly-constructed-home-trends-in-2011/