What Types of Homes Are We Building Now?
0 Comments | Posted by armchairbuilder in Build Your Own Home, Owner-Builder
New Home on Slab Foundation
I was just going through the latest census numbers for new housing and noticed a few items that caught my attention. As you would expect, new homes are evolving over time to meet our lifestyle choices and economic circumstances. Let’s take a look at some of the items from the U.S. Census Bureau’s Characteristics of New Housing for 2010, released June 1st, 2011.
Keep in mind, these numbers are for new single family homes built in 2010.
- Size: Average size for new single family home completed = 2392 square feet, down from 2438 in 2009. Is this a trend or is it a result of poor economic times.
- Financing: 58% of all new single family homes sold were financed with a conventional loan…vs. 74% in 2008. This one is a no-brainer due to the mortgage meltdown.
- *Air Conditioning: 88% of all new homes built had air conditioning…vs. only 49% in 1973. Are we getting less tolerant or is global warming really the culprit?
- *Basements: 28% of all detached homes sold had a full or partial basement…vs. 37% in 2000. Maybe we are losing our love for our basements. 54% were built on a slab and only 18% had a crawl space
- Fireplace: 51% had no fireplace…up from 34% in 1990. Since the average manufactured fireplace install costs roughly $2k to $4k, it could be Americans are starting to rethink the value.
- Siding: 35% had vinyl siding, 25% brick, 21% stucco, 12% fiber cement, 6% wood. This is for the primary exterior wall material choice for the home. Vinyl siding is a very economical choice…and it’s maintenance free.
- Average Square Foot Sales Price by Region: Detached homes in the…Northeast $115, Midwest $85.70, South $74.49, West $102.48. The lower cost in the south could be partially due to the higher percentage of slab foundations.
Photo courtesy of Blue Maui Photographers
