Northeast sees a sharp decrease in square footage
The size of a new single-family home shrank considerably in the second quarter, according to the National Association of Home Builders®1 and U.S. Census Bureau.2 The drop in square footage is especially eye-opening in our region. Check it out:
- Here in the northeast, the median square footage of a new single-family home declined sharply—2,635 to 2,093—in the second quarter. Why the decrease? Experts said it’s partly a result of more builders constructing much-needed entry level homes.
- Nationwide, the median square footage of a new home was 2,264, slightly less than the 2,280 square feet reported in the first quarter.
- A square footage increase is predicted for the second half of 2020 since many Americans are looking for more space to live, work, and study during the COVID‑19 pandemic.
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