According to a new analysis from the National Association of Home Builders, townhouse construction is at an all-time high. Construction of townhouses is up 24 percent versus the prior four quarters, and builders expect demand to grow.
Townhouse construction is outperforming other building sectors, a new analysis from the National Association of Home Builders shows. 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 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,” the 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 postrecession high.
To read the full post, click here: Townhouse Construction Reaches Post-Recession High