Tag Archive for ‘exurbs’

HBGI Shows Suburban Shift for Multifamily Construction

The first quarter 2021 Home Building Geography Index (HBGI) showed that single-family home building continued to shift to low-density and low-cost markets, a trend stemming largely from the COVID-19 pandemic and first reported in the second quarter of 2020. However, this suburban shift has been even more pronounced in the multifamily sector, which is experiencing growth in 2021 after a… Read More ›

Home Building At Fastest Pace in Areas With Shortest Commute Times

Home building across the nation expanded the fastest in places with the shortest commute times, according to the quarterly National Association of Home Builders (NAHB) Home Building Geography Index (HBGI). The HBGI also shows the suburban shift in new home construction to low density, low cost markets stemming largely from the COVID-19 pandemic and first reported in the second quarter… Read More ›

Regional Submarkets See Multifamily Residential Construction Decline in Q4 2020

As part of the latest iteration of NAHB’s Home Building Geography Index (HBGI), it was previously shown that single-family homebuilding in the fourth quarter of 2020 continued a trend of a suburban shift to lower density markets. However, for multifamily residential construction, what started as double-digit growth in all the HBGI’s Regional submarkets in the first quarter of 2020 devolved… Read More ›

NAHB 4th Quarter HBGI: Suburban Shift for Construction in 2020

The suburban shift in home building to meet growing buyer preferences for lower density, lower cost markets stemming from the COVID-19 pandemic that was first reported in the second quarter National Association of Home Builders (NAHB) Home Building Geography Index (HBGI) has continued throughout the rest of 2020. Single-family construction continued to overperform in suburbs, exurbs and rural communities, according… 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 ›

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 ›

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 ›

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 ›