An elevated rental share of multifamily construction is holding typical apartment size below levels seen during the pre-Great Recession period. According to first quarter 2020 data, the average per unit square footage of multifamily housing construction starts was 1,086, off from the post-recession high set at the start of 2015 (1,247 square feet).
New single-family home size has trended lower over the last four years as builders sought to add additional entry-level supply to an inventory-starved housing market. However, the coronavirus and the recession of 2020 potentially reset those trends, as evidence grows that households will seek more space for home offices, home gyms, and other
Existing home sales, as reported by the National Association of Realtors (NAR), fell for the second straight month in April as the coronavirus pandemic shut down much of the country’s economic activity and hit the labor market. Total existing home sales, which includes single-family homes, townhomes, condominiums and co-ops, dropped 17.8% to a
NAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates custom home building posted a small increase during the first three months of the year, supported by low interest rates and unseasonably mild weather in January and February. While housing construction starts declined in March, and considerably more