Tag Archive for ‘multifamily construction’

Multifamily Construction Gains for Lower-Density Markets

The Q2 2020 NAHB Home Building Geography Index (HBGI) reveals a notable multifamily construction shift to the suburbs/exurbs. This is similar to HBGI findings reported for single-family construction. A driver of this broader impact is COVID-19, which thus far has had larger impacts on higher density neighborhoods. These geographic changes will ultimately generate market share gains for smaller multifamily structures,… Read More ›

Multifamily Construction Shines Brighter in EHS Markets

While the question of when the first cases of the novel coronavirus to reach American soil occurred is contested, its rapid spread in the United States by the end of the first quarter of 2020 has been transformative. During this crisis, the nation’s health infrastructure has been in focus. NAHB’s Home Building Geography Index (HBGI), in addition to covering the… Read More ›

Multifamily Construction Gaining Market Share in Low Density Markets

In the last analysis of NAHB’s Home Building Geography Index (HBGI), single-family construction was shown to be expanding faster in regions of lower population density. The COVID-19-induced public health crisis has added momentum to this trend. Moreover, multifamily residential construction has been on a similar trajectory of growth that intensified in 2019, regardless of the virus impact. Indeed, over the… Read More ›

Single-Family Large Metro Construction Lagged in 2019

The fourth quarter NAHB Home Building Geography Index (HBGI) highlight recent performance of single-family and multifamily construction markets across the seven population density-based regional geographies of the index. Over the course of 2019, exurbs outside medium-sized cities, i.e., outlying counties of small metro areas, performed best at 2.9% growth rate. Small towns (micro counties) performed next best at 2.8%, although… Read More ›

Multifamily Six-Year Streak of Gains Ended in 2018

For only the second year since the Great Recession, multifamily unit completions declined in 2018, according to NAHB analysis of the latest annual multifamily data from the Survey of Construction (SOC). As is typical, the number of multifamily units completed for rent exceeds the number of units completed for sale (92% rental share). In 2018, the number of units completed… Read More ›

Outlying Areas Show Most Home Building per Capita

When NAHB’s Home Building Geography Index (HBGI) was introduced, it allocated county single- and multifamily permits into seven regions based on population densities. These regions are representative of different types of housing markets in the United States. New work in this post offers a per capita analysis of the HBGI regionals, which corroborates earlier findings  of market share and growth… Read More ›

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 ›

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 ›