Smaller, Fewer Single-Family Homes on the Market

Single-family homes are smaller, and are being built less frequently than in years past, helping home values rise. In 2017, the typical single-family home was 100 square feet smaller than in 2016.

From 2,400 to 2,300 square feet, the size of the typical single-family home continued its downward trend in 2017, according to analysis by Zillow economic data analyst Matthew Speakman. Lot size is also getting smaller, and the trend of smaller homes and lots is consistent nationally, writes Speakman. Only in the West South Central Census division (Arkansas, Louisiana, Oklahoma, and Texas) did the median lot size increase, growing by 750 square feet.

One- and two-story homes have been the most commonly constructed single-family homes for years, a trend continued through 2017. However, as overall construction has declined, so has the relative share these home types. Three-story houses represent nearly 10 percent of all new construction, but that rate has risen in recent years. In December 2014, three-story homes made up less than 1 percent of all new construction.

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