Report: Homes Show Decades of Upsizing
Despite growing consumer interest in tiny homes, most homeowners still opt for bigger properties. Over the past few decades, home owners have been adding bedrooms, bathrooms, and extra square footage to their homes, according to the U.S. Census Bureau’s 2016 Characteristics of New Housing report.
In 1980, 64 percent of new single-family homes had three bedrooms, and the median sales price was $64,600. In 2016, 50 percent had four or more bedrooms—the largest share on the market—and the median sales price was $268,900. Owners are adding bathrooms, too: 52 percent of new single-family homes in 1980 had two bathrooms, while 59 percent had three or more in 2016.
The overall square footage of homes is on the rise as well:
Square Footage 1980 2016 1,800-2,399 30 percent of new single-family homes 29 percent of new single-family homes 2,400-2,999 17 percent 23 percent 3,000-3,999 13 percent 21 percent 4,000+ 5 percent 10 percent
Source: “Just About Everything’s Getting Bigger – Including Homes,” realtor.com® (June 2, 2017)