Census Bureau recently released detailed information about the characteristics of the new homes which was built in the year 2009. Last year the size of the new homes completed in 2009 declined, decreasing to a countrywide average range of about 2,438 sq. ft.

After increasing constantly for about thirty years, in 2007, the average size of the homes for the single family completed in the US increased at 2,521 sq. ft. In 2008, it was actually flat but in 2009 it decreased, therefore the new homes for the single family were built in 2009 were smaller nearly 100 sq. ft than in the year 2007.

David Crowe, the chief economist of the NAHB said that when there was recession during 1980, the size of the new homes dropped. The decline of the 1980s, were just temporary, however this time the reduce in the size of the new homes is related to fact such as an growth in the number of the share of the first time property buyers, to keep the energy costs low, less number of equity in the existing homes to move into the next home, less focus on the investment of purchasing a property and poor credit standards. Many of these tendencies are expected to happen and continue impacting the new property market for a long period.
He then added that the average square footage of the new homes completed for the single family is just measure of new home size. The Census Bureau says that the average square footage of the homes completed in Q1 based on starts instead of completions, which is sometimes beneficial as market conditions are fluctuating rapidly.
In keeping with their slightly reduced size, the new homes which were built in 2009 had only fewer rooms than the previous year.