What do American homeowners really want?

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Size matters and other secrets you must know to compete for buyers

Trey Garrison
June 3, 2014 11:27AMResidential construction overall may have stalled out after a brisk 2013, but what is being built shows Americans haven’t lost their desire for a little more elbow room in their homesteads.

According to just released data from the U.S. Census Bureau, both the median and average size of a new single-family home built in 2013 hit new all time highs of 2,384 and 2,598 square feet, respectively.

Construction spending has stalled this spring, but during the first four months of this year, construction spending amounted to $274.5 billion, 8.9% above the same period in 2013 – much of that activity centered on this segment of the market.

According to the Census, the average sales price of new single-family homes sold was $324,500, compared with the average price of $292,200 in 2012. The average price per square foot for new single-family homes sold was $93.70.

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