Posted June 1, 2021

HUD releases 2020 new homes construction report

The average new single-family home was 2,333 square feet and sold for $391,900.

The U.S. Census Bureau released today the 2020 Characteristics of New Housing, which provides annual statistics on the characteristics of new privately owned residential structures by census region. The report includes characteristics such as the number of bedrooms and bathrooms, the location of laundry facilities, the presence of a homeowner’s association, the buyer’s source of financing, and the structure’s square footage.

The report uses data collected by the Census Bureau’s Survey of Construction, jointly funded by the U.S. Department of Housing and Urban Development.

Of the 912,000 single-family homes completed in 2020:

  • 870,000 had air-conditioning.
  • 90,000 had two bedrooms or less and 401,000 had four bedrooms or more.
  • 29,000 had one and one-half bathrooms or less and 309,000 homes had three or more bathrooms.
  • 353,000 had a heat pump. Of these, 344,000 were air-source and 9,000 were ground-source.
  • 831,000 were framed in wood and 75,000 were framed using concrete.
  • 306,000 had a patio and a porch, while 71,000 had no outdoor features.

The median size of a completed single-family house was 2,261 square feet.

Of the 375,000 multifamily units completed in 2020:

  • 164,000 had one bedroom and 38,000 had three bedrooms or more.
  • 372,000 were conventional apartments and 3,000 were townhouses.
  • 216,000 were in buildings with four floors or more.
  • 334,000 had individual laundry facilities and 24,000 had shared laundry facilities.
  • 263,000 were in buildings framed in wood and 38,000 were in buildings framed in steel.

The median size of multifamily units built for rent was 1,075 square feet, while the median of those built for sale was 1,306 square feet.

Of the 14,000 multifamily buildings completed in 2020:

  • 3,000 had 4 floors or more.
  • 2,000 had 50 units or more.
  • 6,000 were heated by a heat pump.
  • 12,000 had wood framing.

Of the 822,000 single-family homes sold in 2020:

  • 739,000 were detached homes and 83,000 were attached homes.
  • 348,000 had three bedrooms.
  • 495,000 were heated using gas.
  • 570,000 were purchased using conventional financing and 37,000 were purchased using cash.
  • 250,000 had stucco as the primary exterior wall material.
  • 742,000 had wood framing.

The median sales price of new single-family homes sold in 2020 was $336,900, while the average sales price was $391,900.

The median size of a new single-family home sold in 2020 was 2,333 square feet.

123,000 contractor-built single-family homes were started in 2020.

The median contract price was $298,500.