Eye On Housing
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 ›
In the fourth quarter of 2021, the market shares of single-family and multifamily home building in rural submarkets, as identified by NAHB’s Home Building Geography Index (HBGI), increased from the fourth quarter of 2020. Evolving market conditions were primarily responsible for the market share gains. Rural areas’ home building market share changes indirectly reflected differing growth rates among all regional… Read More ›
In the third quarter of 2021 apartments and other multifamily residential construction showed a continuation of the suburban shift that was characteristic of prior quarters, per the most recent data from NAHB’s Home Building Geography Index. For the current period, market share declined in high-density markets, namely large metro core and suburban counties. Between the third quarter of 2020 and… Read More ›
Housing affordability has gained increased attention in recent quarters due growing home prices and rents. For the second quarter of 2021, NAHB’s Home Building Geography Index (HBGI) explored a geographic measure of housing affordability using Price-to-Income ratios of all counties in the United States1 to map the geography of single-family and multifamily construction. The principal findings of this new classification… Read More ›
In the second quarter of 2021, residential construction continued to shift toward the suburbs and lower-cost markets, and this trend is especially pronounced within the multifamily sector, according to the latest Home Building Geography Index (HBGI). During this period, multifamily construction posted double-digit percentage gains in small metro core and suburban areas, while large metro areas experienced a decrease for… Read More ›
In addition to its analysis on areas with the longest commuting times, the Q1 2021 Home Building Geography Index (HBGI) features two other Commute-to-Work data series: counties with top shares of bicycle commuters (i.e., greater than or equal to 0.5 percent) and counties with top shares1 of work-from-home workers (greater than or equal to 6.6 percent). Single-family and multifamily housing… Read More ›
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 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 ›
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 ›
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 ›