Tag Archive for ‘suburban’

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 ›

Large Metro Suburban Single-family Construction Slows

Recent developments in the first quarter of 2022 per NAHB’s Home Building Geography Index (HBGI), indicate single-family home building slowing in suburbs, with most other regional geographies following suit. Following the aftermath of COVID-19, home buyer preferences for the suburbs have eased. Supply-chain challenges and unfavorable economic conditions have reduced the pace of single-family residential construction across all regional submarkets…. Read More ›

Suburban Shift Continues for Multifamily

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 ›

Strong Regional Growth Amid Lessened Suburban Shift: Q3 2021 HBGI

The suburban shift for single-family home building, which was precipitated in large part by the onset of the COVID-19 pandemic last year continues. But new data reveals that higher density markets are making a comeback as well, according to the third quarter edition of the NAHB Home Building Geography Index (HBGI). As more workers transition back to the workplace, there… Read More ›

HBGI: Small Outlying Counties Have Greatest Share of Most Affordable Markets

Housing affordability has been a key driver of the suburban shift of home building activity over the last year and a half. As the following analysis from the NAHB Home Building Geography Index reveals, lower density markets in general have higher housing affordability conditions, which explains the shift in construction activity. The second quarter HBGI examined county-level Price-to-Income ratios. The… Read More ›

Tracking the Geography of Home Building: Housing Affordability Metrics

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 ›

Q2 2021 HBGI: Multifamily Suburban Shift

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 ›

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 ›