Starts on 5,000+ Square-Foot Homes Down in 2016

The share of new homes started with 5,000 square feet or more of living space went down in 2016 to 3.1 percent from 3.9 percent in 2015, the highest since 2007, according to the Census Bureau.

The share of 5,000 or more square foot homes in 2016 is the lowest since 2012. Between 2009 and 2012, the number of these large homes accounted for less than 3 percent of all new single family construction, well under 20,000 a year, according to the National Association of Home Builders.

Further analysis shows that 74 percent of 5,000+ square feet home started in 2016 have a finished basement, 65 percent have a 3 or more car garage, and at least 58 percent have a patio or porch. More than 50 percent of the homes have 5 bedrooms or more and 70 percent have 4 bathrooms or more.

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