Tag Archive for ‘HBGI’

4Q20 Home Building Geography Index: Diversity Measures

The topic of diversity, and its relationship to homeownership and home building, carries significant implications for policy making, social justice, and equity. In addition to the usual regional classification, NAHB’s Q4 2020 Home Building Geography Index (HBGI) provides a segmentation of the housing market based on county-level measurements of racial and ethnic heterogeneity. For this purpose, we use ESRI’s1 2018… 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 ›

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 ›

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 ›

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 ›