Friday, June 15, 2012

US Census Defines New Construction for 2011

Looking back on what happened in new home construction is fun and educational.  Thanks to the US Census, here are the highlights from last year.  As you read through them, start planning your marketing, sales and business plans using the facts presented.  Times are changing and we all have to adapt to them or we will still be building the same modular homes we were in the late 90's.


Here is the data from our fabulous federal government:


In 2011:
  • The average single-family house completed was 2,480 square feet. In 2010, the average single-family house was 2,392 square feet.
  • 33% of the new single-family homes sold in the U.S. had vinyl siding as the principal type of exterior wall material. For attached single-family homes sold, it was 41% and for detached single-family homes sold, it was 32%.
  • 88% of all single-family homes completed had air-conditioning. By region, the proportions were 81% in the Northeast, 91% in the Midwest, 99% in the South, and 62% in the West.
  • 39% of single-family homes completed had 4 or more bedrooms. 48% of them had 3 bedrooms.
  • Of the single-family homes completed with 4 or more bedrooms, 57% had 3 or more bathrooms.
  • 19% of new single-family homes sold had a garage that could hold 3 or more cars.
  • 30% of single-family homes completed had a full or partial basement, 53% had a slab or other type of foundation, and 17% had a crawl space.
  • 54% of single-family homes completed had 2 or more stories.
  • 48% of new single-family homes sold had 1 fireplace and 5% had 2 or more fireplaces.
  • The average new single-family home sold was built on a lot of 16,663 square feet. The average lot size for new homes sold inside metropolitan areas was 15,616 square feet. Outside metropolitan areas, it was 28,768 square feet.
  • 56% of all single-family homes completed had a warm-air furnace installed as the primary type of heating system.
  • Of the completed single-family homes with warm-air furnaces, 88% used gas, 11% used electricity, and 1% used oil.
  • 62% of all new single-family homes sold were financed by a conventional loan. The proportion was 58% in 2010 and 62% in 2009. The proportion that were financed by an FHA-insured loan was 20% in 2011, 25% in 2010, and 24% in 2009.
  • The average sales price of new single-family homes sold was $267,900. The average sales price was $272,900 in 2010, $270,900 in 2009 and $292,600 in 2008.
  • The average price per square foot for new single-family homes sold was $83.38. Regionally, the average price per square foot was $111.37 in the Northeast, $87.53 in the Midwest, $76.73 in the South, and $96.12 in the West.
  • Of the 138,000 multifamily units completed, 44% had one bathroom, 4% had 1½ bathrooms, and 53% had 2 or more bathrooms.
  • 62% of multifamily units completed used electricity for heating fuel, while 37% used gas.
  • The average square footage of multifamily units completed and built for sale was 1,408.
  • 12% of multifamily units completed were age restricted. The proportion was 8% in 2010 and 9% in 2009.
  • 9,000 multifamily buildings were completed. Of these, 18% were 2-unit buildings and 13% were 3 to 4-unit buildings.
  • 89% of multifamily buildings completed had 1 to 3 floors and 11% had 4 or more floors.
Note: the estimates shown here are based on sample surveys and are subject to sampling variability as well as non-sampling error.

2 comments:

Anonymous said...

Coach,

As much as we would like to be main stream, modular is a niche product in many parts of the country. I think we have to be careful about using broad based data to drive our efforts.

Coach said...

And as long as we keep thinking of modular home construction as a niche market we will never, ever be any more than that.