Tag Archive for ‘HBGI’

Multifamily Regional Market Shares Show Variation from First Quarter

The National Association of Home Builders’ Home Building Geography Index (HBGI) tracks the markets of single-family and multifamily residential construction and their recovery following the Great Recession. In the first quarter of 2019, the first “cut” of the HBGI was introduced, which was an urban density-based delineation of the housing market into seven geographical “regions”. The first quarter HBGI analysis… Read More ›

Single-Family Gains Limited to Rural Areas and Exurbs: 2Q19 HBGI

When NAHB’s Home Building Geography Index (HBGI) was unveiled, it examined construction along a population density-based delineation of U.S. counties into such geographies as suburbs, exurbs, rural areas, etc. The second quarter release introduces a new geography, manufacturing areas, while updating the first regional tracking, as described here. Of the seven “regions” of the HBGI, only exurbs and rural areas… Read More ›

Home Construction in Manufacturing Areas Weakened after 2017 Strength

The second quarter 2019 edition of the NAHB Home Building Geography Index (HBGI) introduces a new analysis of residential construction in manufacturing-intensive areas, in addition to updating trends for previously-defined areas of the exurbs, suburbs and rural markets. The HBGI data find that manufacturing areas experienced above-trend growth for single-family construction in 2017, followed by declines in 2019 as the… Read More ›

Single-Family Market Share Change

As tracked by the NAHB HBGI, the changing geographic shares of single-family construction across the U.S. reflect the evolution of home building. As can be seen from the above figure, the market share of single-family permits for small city core areas declined slightly over the last eight years, starting initially from a little less than 30% of single-family home construction… Read More ›

HBGI Shows Multifamily Gains in Small Towns and Rural Areas

NAHB analysis of multifamily construction permits over the last four quarters indicates relatively higher growth rates in less populated areas. A prior post reviewed the newly released Home Building Geography Index (HBGI) through the perspective of single-family permit activity. This post examines multifamily construction as classified into the seven HBGI regional geographies, as differentiated by urban density. Economic theory suggests… Read More ›