Tag Archive for ‘HBGI’

Virus Impacts: Single-Family and Multifamily Market Concentrations

The first quarter of 2020 witnessed a shift in home building towards less population-dense housing markets in the United States, a trend which was greatly hastened by the onset of COVID-19. While most states issued statewide stay-at-home orders with exemption for construction, some of the hardest-hit states had no exemptions for construction when the pandemic first hit. While NAHB’s Home… 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 ›

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 ›

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 ›

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 ›

Millennial Areas Front and Center to Housing Affordability Challenges

The third cut of NAHB’s Home Building Geography Index (HBGI) defines “Millennial counties” as those having at least a 26% share of total population belonging to the Millennial generation (born between 1981-1997). The top 25% of counties with a high millennial concentration represent 62% of the U.S. population. These counties also constitute 59% and 80% of single-family and multifamily construction,… 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 ›