Eye On Housing
NAHB analysis of information published in Builder Magazine’s annual Local Leaders lists shows that large builders gained market share across all tiers on average from 2009 to 2021 in major housing markets; market concentration, as calculated with top four firms in a metropolitan statistical area (MSA), has also increased, but has leveled off over the last four years. Figure 1 shows… Read More ›
Tag Archive for ‘Metropolitan Statistical Area’
Metro Areas Trail Lower Density Markets for Apartment Construction Growth
In the first quarter of 2022, multifamily home building showed greater growth across all regional markets compared to the first quarter of 2021, per the NAHB’s Home Building Geography Index (HBGI). Apartment construction far outpaced single-family building in all regional geographies but especially in lower density markets1. Low rental vacancy rates and rising rents gave multifamily developers confidence to continue… Read More ›
Metro Area Populations Exhibit Minimal Growth From 2020
The Census Bureau recently released its 2021 Metropolitan Statistical Area (MSA) annual population estimates. Between 2020 and 2021, 251 (65%) of the 384 MSAs within the 50 states and the District of Columbia experienced population increases, albeit small on percentage terms. The MSAs’ combined total population increased from 286,195,308 in 2020 to 286,472,775 in 2021, approximately a 0.1% increase. Dallas-Fort… Read More ›
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 ›
Unemployment Rates in the Top Single-Family Building Metros
Like much of the nation, the top single-family home building metros are facing elevated jobless rates. Reported below are the top 10 metro areas by number of single-family permits authorized over the first six months of 2020. Combined, these top building markets issued 30.6% of all single-family permits through June. Metropolitan Statistical Area Single-family Permits: June (Units #YTD, NSA) Houston-The… 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 ›
Exurbs Lead Apartment Construction Gains in the Second Quarter
The second quarter of 2019’s recent permit data shed new light on NAHB’s Home Building Geography Index (HBGI), not only in manufacturing, which is its newest cut, but also in its first vein of analysis, a population density-based delineation of all the counties in the U.S., known as regions. New permits for multifamily dwellings have historically been the highest in… 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 ›
Single-Family Market Share Change
As tracked by the NAHB HBGI, the changing geographic shares of single-family construction across the U.S. reflect the evolution of home building. As can be seen from the above figure, the market share of single-family permits for small city core areas declined slightly over the last eight years, starting initially from a little less than 30% of single-family home construction… Read More ›