Graph and download economic data for Housing Inventory: Median Home Size in Square Feet in the United States (MEDSQUFEEUS) from Jul 2016 to Jun 2025 about square feet, median, and USA.

In 2023, the average size of a single-family home built for sale in the United States amounted to ***** square feet. Although in the past five years American homes have been shrinking, since 1975, they have almost doubled in size. This trend towards larger homes seems illogical given that the average size of families has shrunk over the same period. Why are American homes so large? Homes in the U.S. are among the largest in the world, only surpassed by Australia. There are thought to be several reasons for this, including the concentration of wealth in the country, and the deeply engrained driving culture which means that cheaper land outside city centers is easily accessible. Where are the largest homes located? The size of homes also varies regionally, with the largest homes being located in wealthy, urban areas and in the South. Large homes, or McMansions as they’re often called, are especially popular in Texas. In 2023, Milwaukee and Omaha had the largest average home size.

Graph and download economic data for Housing Inventory: Median Home Size in Square Feet in Georgia (MEDSQUFEEGA) from Jul 2016 to Jul 2025 about square feet, GA, median, and USA.

House prices in the second most populous state in the United States, Texas have doubled since 2011. In 2023, the average house price reached ***** U.S. dollars per square foot, up from approximately *** U.S. dollars in 2020. Despite the increase, the median home price was still below the national average.

Housing Inventory: Median Home Size in Square Feet in Virginia was 2017.00000 Level in June of 2025, according to the United States Federal Reserve. Historically, Housing Inventory: Median Home Size in Square Feet in Virginia reached a record high of 2173.00000 in June of 2020 and a record low of 1858.00000 in November of 2021. Trading Economics provides the current actual value, an historical data chart and related indicators for Housing Inventory: Median Home Size in Square Feet in Virginia - last updated from the United States Federal Reserve on August of 2025.

The average price per square foot of floor space in new single-family housing in the United States decreased after the great financial crisis, followed by several years of stagnation. Since 2012, the price has continuously risen, hitting *** U.S. dollars per square foot in 2022. In 2024, the average sales price of a new home exceeded ******* U.S. dollars. Development of house sales in the U.S. One of the reasons for rising property prices is the gradual growth of house sales between 2011 and 2020. This period was marked by the gradual recovery following the subprime mortgage crisis and a growing housing sentiment. Another significant factor for the housing demand was the growing number of new household formations each year. Despite this trend, housing transactions plummeted in 2021, amid soaring prices and borrowing costs. In 2021, the average construction cost for single-family housing rose by nearly ** percent year-on-year, and in 2022, the increase was even higher, at close to ** percent. Financing a house purchase Mortgage interest rates in the U.S. rose dramatically in 2022 and remained elevated until 2024. In 2020, a homebuyer could lock in a 30-year fixed interest rate of under ***** percent, whereas in 2024, the average rate for the same mortgage type was more than twice higher. That has led to a decline in homebuyer sentiment, and an increasing share of the population pessimistic about buying a home in the current market.

Housing Inventory: Median Home Size in Square Feet Year-Over-Year in Missouri was -0.71% in May of 2025, according to the United States Federal Reserve. Historically, Housing Inventory: Median Home Size in Square Feet Year-Over-Year in Missouri reached a record high of 5.56 in August of 2020 and a record low of -7.42 in August of 2021. Trading Economics provides the current actual value, an historical data chart and related indicators for Housing Inventory: Median Home Size in Square Feet Year-Over-Year in Missouri - last updated from the United States Federal Reserve on July of 2025.

Housing Inventory: Median Home Size in Square Feet in Louisiana was 1857.00000 Level in June of 2025, according to the United States Federal Reserve. Historically, Housing Inventory: Median Home Size in Square Feet in Louisiana reached a record high of 1988.00000 in September of 2020 and a record low of 1820.00000 in January of 2025. Trading Economics provides the current actual value, an historical data chart and related indicators for Housing Inventory: Median Home Size in Square Feet in Louisiana - last updated from the United States Federal Reserve on August of 2025.

Housing Inventory: Median Home Size in Square Feet Year-Over-Year in Volusia County, FL was 0.44% in June of 2025, according to the United States Federal Reserve. Historically, Housing Inventory: Median Home Size in Square Feet Year-Over-Year in Volusia County, FL reached a record high of 3.03 in November of 2022 and a record low of -6.59 in April of 2020. Trading Economics provides the current actual value, an historical data chart and related indicators for Housing Inventory: Median Home Size in Square Feet Year-Over-Year in Volusia County, FL - last updated from the United States Federal Reserve on July of 2025.

Housing Inventory: Median Home Size in Square Feet in Connecticut was 1954.00000 Level in June of 2025, according to the United States Federal Reserve. Historically, Housing Inventory: Median Home Size in Square Feet in Connecticut reached a record high of 2299.00000 in July of 2020 and a record low of 1718.00000 in January of 2025. Trading Economics provides the current actual value, an historical data chart and related indicators for Housing Inventory: Median Home Size in Square Feet in Connecticut - last updated from the United States Federal Reserve on August of 2025.

Graph and download economic data for Housing Inventory: Median Home Size in Square Feet in Massachusetts (MEDSQUFEEMA) from Jul 2016 to May 2025 about MA, square feet, median, and USA.

Housing Inventory: Median Home Size in Square Feet Year-Over-Year in Henry County, IN was -16.37% in May of 2025, according to the United States Federal Reserve. Historically, Housing Inventory: Median Home Size in Square Feet Year-Over-Year in Henry County, IN reached a record high of 29.11 in July of 2020 and a record low of -18.01 in September of 2019. Trading Economics provides the current actual value, an historical data chart and related indicators for Housing Inventory: Median Home Size in Square Feet Year-Over-Year in Henry County, IN - last updated from the United States Federal Reserve on July of 2025.

Prices for luxury housing in July 2024 were slightly lower than the market peak in 2021 and 2022. Luxury single-family properties had a median square footage price of *** U.S. dollars in July 2024, down from *** U.S. dollars in July 2022. Attached houses, on the other hand, had a median price of *** U.S. dollars per square foot, down from *** U.S. dollars in July 2021.

Between 2020 and 2022, the average square footage price of one-to-three family homes in Queens, New York increased. Existing condo prices, on the other hand, fell from ***** U.S. dollars per square foot in the ********************* to *** U.S. dollars per square foot in the *********************.

The average sales price of new homes in the United States experienced a slight decrease in 2024, dropping to 512,2000 U.S. dollars from the peak of 521,500 U.S. dollars in 2022. This decline came after years of substantial price increases, with the average price surpassing 400,000 U.S. dollars for the first time in 2021. The recent cooling in the housing market reflects broader economic trends and changing consumer sentiment towards homeownership. Factors influencing home prices and affordability The rapid rise in home prices over the past few years has been driven by several factors, including historically low mortgage rates and increased demand during the COVID-19 pandemic. However, the market has since slowed down, with the number of home sales declining by over two million between 2021 and 2023. This decline can be attributed to rising mortgage rates and decreased affordability. The Housing Affordability Index hit a record low of 98.1 in 2023, indicating that the median-income family could no longer afford a median-priced home. Future outlook for the housing market Despite the recent cooling, experts forecast a potential recovery in the coming years. The Freddie Mac House Price Index showed a growth of 6.5 percent in 2023, which is still above the long-term average of 4.4 percent since 1990. However, homebuyer sentiment remains low across all age groups, with people aged 45 to 64 expressing the most pessimistic outlook. The median sales price of existing homes is expected to increase slightly until 2025, suggesting that affordability challenges may persist in the near future.

Graph and download economic data for Housing Inventory: Median Home Size in Square Feet in Rochester, NY (CBSA) (MEDSQUFEE40380) from Jul 2016 to Jul 2025 about Rochester, square feet, NY, median, and USA.

The average price for residential real estate in Manhattan, New York increased for luxury, new developments, and condos. Conversely, prices for re-sale and co-op properties declined slightly. In the third quarter of 2024, the average square footage price for a re-sale property was ***** U.S. dollars per square foot.

Graph and download economic data for Housing Inventory: Median Home Size in Square Feet in New York (MEDSQUFEENY) from Jul 2016 to Jun 2025 about square feet, NY, median, and USA.

This statistic depicts the median size of home center transactions in the United States from 2013 to 2020. In 2020, the median size of typical home center sales per customer in the United States was ** U.S. dollars.

Graph and download economic data for Housing Inventory: Median Home Size in Square Feet in the Villages, FL (CBSA) (MEDSQUFEE45540) from Jul 2016 to Dec 2024 about The Villages, square feet, FL, median, and USA.