Industry News

Super-sizing trend continues in real estate

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Large lot sizes and big houses are still gaining in popularity among buyers of new homes, according to the latest U.S. Census Bureau data on housing characteristics. The "Characteristics of New Housing" report, released this month, found that the average size of a new single-family U.S. home sold last year grew 2 percent since 2004, to 2,414 square feet. The median square footage grew 3 percent from 2004 to 2005. The average square footage of new homes sold last year dropped 0.3 percent compared to 2004 in the Northeast region but grew 4.3 percent in the West, 2.1 percent in the Midwest and 1 percent in the South. There was a 1 percent rise from 2004 to 2005 in the share of new single-family homes sold with lot sizes of 22,000 square feet (about one-half acre) or more, a 1 percent increase in the share of homes sold on lots between 11,000 square feet to 21,999 square feet, and another 1 percent gain in the share of sold homes built on lots of 9,000 square feet to 10,999 squ...