Average New Lot Size Remains at Record Low

Filed in Economics by on October 16, 2018 1 Comment

The median lot size of a new single-family detached home sold in 2017 was 8,560 square feet, or just under one-fifth of an acre. While only two square feet smaller than 2016’s median lot size, it is still the lowest number since the Census Bureau’s Survey of Construction (SOC) started tracking the series for single-family detached homes in 1992.

But as NAHB economist Natalia Siniavskaia observed in a recent Eye on Housing blog post, regional differences in lot sizes persist. For example, looking at single-family detached speculatively built homes started in 2017, the median lot size in New England is twice as large as the national median.

New England is known for strict local zoning regulations that often require very low densities. Therefore, it is not surprising that more than half of single-family detached spec homes started in New England are built on some of the largest lots in the nation, with more than half of the lots exceeding four-tenths of an acre.

Meanwhile, the Pacific division, where densities are high and development land is scarce, is home to the smallest lots. Half of the lots in this area are under 0.15 of an acre.

View more information at this Eye on Housing blog post.

Facebooktwitterlinkedinmail

Tags:

Comments (1)

Trackback URL | Comments RSS Feed

Sites That Link to this Post

  1. U.S median lot sizes are shrinking : Qualitas Property | October 25, 2018

Leave a Reply

Your email address will not be published. Required fields are marked *

Advertisement