This week's theme: housing.
NEW HOMES, BIG HOMES
Highlights on housing characterstics in 2012, from the U.S. Census Bureau:
- Of the 483,000 new single family homes completed in 2012, more than 40% had 4 or more bedrooms. This is up from only one quarter of new homes having 4+ bedrooms in the late 1970s and early 1980s.
- The average size of single family homes built in 2012: 2,505 square feet.
- New homes are biggest in the South (avg. 2,700 sq. ft.), and smallest in the West (avg. 2,400 sq. ft.).
- The average size of multi-family homes built in 2012: 1,626 square feet. (Coincidentally, that's about the average size of a single family home sold in 1982.)
- The average sales price of new single-family homes sold was $292,200, compared with the average price of $267,900 in 2011.
- Per square foot, the northeast ranked highest for average cost.
RENT VS. OWN (depends on where you live)
This week the U.S. Census Bureau released results of the 2011 American Housing Survey.
One notable characteristic is the pattern of own vs. rent by age. Most householders rent until their 30s. By age 40, there are more homeowners than renters. The Atlantic Cities shows that trend varies greatly by metropolitan area. San Franciscans and Angelinos are more likely to rent until their late 40s or early 50s, while residents of Atlanta and Milwaukee are more likely to own at younger ages.)
BEST CHART OF THE WEEK
The Economist's interactive graphic of home prices in the United States...
Source: The Economist
IN CASE YOU MISSED IT...
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