by Bill McBride on 6/02/2014 08:25:00 PM
Monday, June 02, 2014
Census data released Monday on the characteristics of new single-family housing construction confirms that the median size of a new pad in America is bigger than it's ever been ... In 2013, the median size of a new single-family home completed in the United States was 2,384 square feet (the average, not surprisingly, was tugged even higher by the mega-mega home: 2,598 square feet). That median is above the pre-crash peak of 2,277 square feet in 2007, and it dwarfs the size of homes we were building back in 1973 (median size then: 1,525 square feet)....Looks like extra bathrooms are very popular.
What, then, do we want all of this room for? What's particularly striking in the Census Bureau's historic data on new housing characteristics is the growth of what would be luxuries for many households: fourth bedrooms, third bathrooms, three-car garages.
• All day: Light vehicle sales for May. The consensus is for light vehicle sales to increase to 16.1 million SAAR in May from 16.0 million in April (Seasonally Adjusted Annual Rate).
• At 10:00 AM, Manufacturers' Shipments, Inventories and Orders (Factory Orders) for April. The consensus is for a 0.5% increase in April orders.
Posted by Bill McBride on 6/02/2014 08:25:00 PM