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Townhouse Construction Reaches Post-Recession High by FloridaRealtors featured by SVN | SFRhub Advisors

Townhouse construction is outperforming other building sectors, a new analysis from the National Association of Home Builders finds. In the third quarter of this year, townhouses accounted for 33,000 residential construction starts compared to 27,000 in the second quarter of 2017. Construction of townhomes is now 24 percent higher than the prior four quarters.

Originally posted by FloridaRealtors.

Townhouse construction is outperforming other building sectors, a new analysis from the National Association of Home Builders finds.

In the third quarter of this year, townhouses accounted for 33,000 residential construction starts compared to 27,000 in the second quarter of 2017. Construction of townhomes is now 24 percent higher than the prior four quarters.

Builders expect demand to grow.

“Townhouse construction is set for further expansion, given the demographics of renters entering the for-sale market, as well as ongoing land constraints and the growth of demand for walkable neighborhoods,” NAHB notes in its Eye on Housing blog.

The market share of new townhouses is now at 13.8 percent of all single-family starts – a post-recession high.

Townhouses were popular a decade ago. The peak market share for townhouse construction over the last two decades was the last set in the first quarter of 2008. Townhouse starts then reached 14.6 percent of total single-family construction.

Source: “Townhouse Construction Continues Strong Performance,” National Association of Home Builders’ Eye on Housing blog (Nov. 21, 2018)

Originally posted by FloridaRealtors.


 

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Contact Jeff Cline at SVN | SFRhub Advisors
SVN | SFRhub Advisors
Phone: 602-441-5354
2400 E. Arizona Biltmore Circle
Suite 1400
Phoenix, AZ 85016

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