A new look at housing starts based on data from the Census Bureau finds that single-family homes in the U.S. continued to get smaller last year, and economists at NAHB suggest that the downward trend is likely to last beyond the end of the recession.

From a peak of 2,268 square feet in 2006, the median size of new single-family homes dropped consistently through last year, when the size was down to an even 2,100, according to a new special study by NAHB’s Housing Economics, “Characteristics of Single-Family Homes Started in 2009.”

In the early 1980s, when mortgage interest rates climbed to astronomical heights, home sizes experienced a similar decline, but only temporarily.

“This time, part of the current home size decline may again be a temporary recession-related phenomenon, but part can also be attributed to trends in factors like the desire to keep energy costs down, amounts of equity in existing homes available to roll into a new one, tightening credit standards, less emphasis on the pure investment motive for buying a home and an increased share of homes sold to first-time buyers,” writes Paul Emrath, NAHB’s vice president for survey and housing policy research. Read More

A housing stimulus package enacted on Sept. 2 with strong input and support from the Home Builders Association of Puerto Rico is already showing promising results, according to Puerto Rico Governor Luis Fortuño and the HBA.

Speaking at the association’s 37th annual convention on Oct. 1, Fortuño cited extraordinary movement in the housing market since the law went into effect. There have been 560 closings in this period, he said, and the combination of historically low interest rates and new incentives for home builders and consumers makes this a great time to buy a home.

“It has only been a month since the stimulus has passed but traffic is back, phones are ringing and there is a buzz that the industry is alive again,” said Hans Moll, the HBA of Puerto Rico’s president.... Read More

Online voting is now underway for NAHB STAR, the talent contest that will determine who will sing the national anthem at the Grand Opening Ceremonies at the 2011 NAHB International Builders’ Show in Orlando on Jan. 12.

During the first week of voting, which began on Oct. 12, more than 10,700 votes were cast in the “American Idol”-style competition open to NAHB members and their immediate families.

Voters can choose their favorite performance from among 20 "amateur” contestants — including a high school senior, a roller derby queen, a plumber and a LEGO aficionado — who have submitted videos of their live performances of the "Star Spangled Banner” for the contest.

The videos have been posted on the IBS website at www.buildersshow.com/star for one round of online voting — which will trim the field of contestants to as many as four finalists. Online voting closes at 5:00 p.m. EDT on Friday, Oct. 29.  ... Read More