Lot Sizes Getting Smaller
According to research from the NAHB’s Eye on Housing, the median lot size for homes sold in 2019 dropped to 8,177 square feet, or 0.188 of an acre – which they say is the first time this has happened since the Census Bureau began collecting this data. The NAHB says the shrinking median lot size largely reflects the shift in speculatively built (or spec) home building towards smaller lots. Interestingly, they point out that sizes still vary by region:
“While the nation’s production of spec homes shifts towards smaller lots, the regional differences in lot sizes persist. Looking at single-family detached spec homes started in 2019, the median lot size in New England is three times as large as the national median.”
Click here to read the full report at the NAHB’s Eye on Housing.
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