Saturday, June 4, 2016
Thank You Janet Yellen: The Size of Newly Constructed Homes is Exploding
The median size of a new single-family house was 2,467 square feet last year, the biggest on record, according to Census Bureau data out this week. That's 11% larger than a decade ago.
The median sales price of a new home was $296,400 last year, according to Census, a new high. Even when adjusted for inflation, new-home prices hit a record last year.
A separate Commerce Department report out last week showed housing starts rebounded in April, leaving builders on pace to break ground on 778,000 single-family homes this year.
This is not what a recession looks like.
at 12:01:00 AM