Percent Share of 5,000+ Square Foot Homes Rises in 2021

2022-09-15T10:16:25-05:00

By Ashok Chaluvadi on September 15, 2022 • According to the annual data from the Census Bureau’s Survey of Construction (SOC), the share of new homes started with 5,000 square feet or more of living space stood at 2.90 percent in 2021, up from 2.50 percent in 2020.  A total of 33,000 5,000+ square-foot homes were started in 2021, compared to 25,000 in 2020.  The increase in number and share of  5,000+ square foot homes is consistent with the rising trend in median and average size of new single-family homes seen during the pandemic. In 2015, the number of 5,000+ square feet homes started was the highest since 2007, and their share of the new market was the highest since the inception of the series in 1999. In the boom year of 2006, 3.0 percent or 45,000 new homes started were 5,000 square feet or larger. In 2007, the share of new homes that large increased to 3.6 percent while the total number that year fell to 37,000. In 2008, only 20,000 such homes were started, or 3.2 percent of the total.  From 2009 to 2012, the number of these large homes started remained well under 20,000 a year, accounting for less than 3 percent of single-family construction during this period. When analyzed by the different characteristics, 82 percent of 5,000+ square feet home started in 2021 have a porch, 74% have a finished basement, 68 percent each have a patio, 66 percent have a 3-or-more car garage, 63 percent have 4 bathrooms or more, 59 percent have a community association and 55 percent have 5 bedrooms or more. Related ‹ Gypsum Products, Transformers, and Concrete Prices Post Historic 12-Month IncreasesTags: construction, economics, eye on the economy, home building, housing economics, housing trends report, single-family

Percent Share of 5,000+ Square Foot Homes Rises in 20212022-09-15T10:16:25-05:00

Stucco and Vinyl were the Most Common Siding Materials on New Homes in 2021

2022-08-29T10:19:17-05:00

By Ashok Chaluvadi on August 29, 2022 • According to the annual data from the Census Bureau’s Survey of Construction (SOC), stucco was the most common principal siding material on new single-family homes started in 2021 (28 percent),  followed by vinyl siding (24 percent), fiber cement siding (such as Hardiplank or Hardiboard (23 percent) and, brick or brick veneer (19 percent). Far smaller shares of single-family homes started last year had wood or wood products (4 percent) and stone, rock or other stone materials (1 percent) as the principal exterior wall material. The Census Bureau’s SOC data is available by the nine census divisions and there are substantial differences in the use of siding across divisions. Although stucco was the most common siding material in the country as a whole, its popularity is concentrated in a few parts of the country. In 2021, vinyl siding was the most widely used primary exterior material in four northern census divisions. Vinyl siding was used on 74 percent of the new homes started in the Middle Atlantic, 66 percent in New England, 63 percent in the East North Central and 45 percent in the West North Central. Stucco was the most commonly used primary exterior wall material in the Pacific, Mountain and South Atlantic divisions in 2021: 63 percent, 53 percent and 40 percent, respectively, of the new single-family homes started in those areas used it. Brick or brick veneer was the most common exterior siding material in East and West South Central divisions. In the West South Central, 62 percent of the new single-family homes started in 2021 used brick or brick veneer as the primary exterior material, compared to 42 percent in the East South Central. Related ‹ Student Housing Investment Edges Down in the Second Quarter of 2022Tags: Building Materials, construction, economics, eye on the economy, home building, housing economics, single-family

Stucco and Vinyl were the Most Common Siding Materials on New Homes in 20212022-08-29T10:19:17-05:00

About My Work

Phasellus non ante ac dui sagittis volutpat. Curabitur a quam nisl. Nam est elit, congue et quam id, laoreet consequat erat. Aenean porta placerat efficitur. Vestibulum et dictum massa, ac finibus turpis.

Recent Works

Recent Posts