Tag Archive for ‘suburban’

Second Home Markets Show Construction Growth

For the third quarter of 2020, NAHB’s Home Building Geography Index (HBGI) found construction gains for traditional second home markets. High-concentration second home counties were defined based on the proportion of the local housing stock that are non-rental properties and not classified as their taxpayer principal residences. Counties with relatively high concentrations1 of such residences were designated as “second home… Read More ›

Multifamily Construction Shifts to Lower Density Markets in 3Q20

Multifamily construction shifted into less dense markets during the third quarter of 2020, per the latest NAHB Homebuilding Geography Index (HBGI). This change is similar to the evolving geography for single-family home building, as housing demand moved to lower cost, more affordable markets. The multifamily data confirm that these shifts in demand are not just occurring for single-family home building… Read More ›

Suburban Shift for Home Construction Continues into Third Quarter

A trend of higher demand for housing in lower-density areas reported in the second quarter National Association of Home Builders (NAHB) Home Building Geography Index (HBGI) has persisted into the fall, as single-family and multifamily construction continued to overperform in lower cost markets like suburbs and exurbs. The third quarter HBGI reveals that a suburban shift for consumer home buying… Read More ›

Suburban Shift for Home Building in Q2 2020

The Q2 2020 results of NAHB’s Home Building Geography Index (HBGI) show geographical trends of the home building industry as the novel coronavirus, COVID-19, spread quickly through the United States. Although the pandemic caused widespread economic impacts for many businesses, housing has weathered the economic storm, rebounding quickly from an April slump. Moreover, data from the second quarter NAHB HBGI… Read More ›

HBGI: Increased Home Building in Lower-Density Markets Ahead

The COVID-19 pandemic is likely to hasten a housing trend already taking place across the nation – residential construction activity that is expanding at a more rapid rate in lower density markets such as smaller cities and rural areas. This conclusion is among the findings of the latest quarterly National Association of Home Builders Home Building Geography Index (HBGI). An… Read More ›

Millennial Housing Demand and Regional Building Trends: 3Q19 HBGI

Supply and resulting affordability challenges for millennials were highlighted in the most recent NAHB Home Building Geography Index (HBGI). The third quarter HBGI also offers more region-specific insights of single- and multifamily home building trends, including their connections to millennial-intensive areas. Single-family home building in rural areas posted a solid growth rate of 1.1% for the third quarter of 2019,… 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 ›

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 ›

Small City Single-Family Building Growth Slowing

After several years of steady construction gains, single-family construction in small cities experienced a net deceleration of growth going into 2019. Such areas represent 37% of all single-family construction nationwide. With a population of nearly 95 million, small cities in the U.S. account for about 30% of the U.S. population and therefore serve as a good “demographic and economic microcosm”… Read More ›