America's Appetite for Big Homes Returns
"The Census Bureau released updated statistics this morning on new single-family housing completed within the past year, a snapshot of the latest demand for fireplaces (in 43 percent of new homes), fourth bedrooms (41 percent) and three-car garages (19 percent) in the housing construction market," reports Emily Badger.
After a celebrated decline in the average square footage of new single-family homes in the United States, the latest data suggests "that we're building big again," she notes. "The average single-family house completed in 2012 was 2,505 square feet in size, just shy of the all-time high. In fact, a larger share of those homes had a fourth bedroom than at any time since the Census started counting."