Around the time of the Great Recession, homes started to get smaller. In 2007, they averaged 2,500 square feet. By 2009, they averaged 2,362. But then they grew again as the economy began to recover and in 2013, the average home size was 2,679 square feet.
Why are new homes getting so big? According to the NAHB, people who qualify for a mortgage these days have higher incomes, more money to put down and higher credit scores.
"It's not because people are now mad about McMansions again," the NAHB's Rose Quint said. "It's the mix of buyers that are still in the market that's driving the characteristics of homes being built now. Buyers that don't have the means don't have access to mortgages right now. Wealthier buyers are more likely to have the income and credit scores for a home and the result is that the homes being built are bigger."
However, she thinks that if home buying becomes more accessible to more middle income buyers, the square footage will recede again. After all, 57 percent of buyers would like a single-story home, according to the survey.
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