Industry News

Housing construction ramps up in second-home markets

Photo by Erik Mclean on Unsplash

REALTOR Magazine

As remote work has grown and more Americans are no longer bound down to a long commute, more people are being drawn to the idea of a second home. Builders are responding to the uptick in interest.

Single-family construction in second-home markets rose at a 13.6% average rate in the third quarter annually compared to a 10.5% pace in other counties, according to data from the National Association of Home Builders.

Multifamily development in second-home markets is also on the rise. Multifamily development increased 11.1% in second-home counties while it declined by 0.9% in other areas during the third quarter, according to the NAHB.

Find the story online here: Housing Construction Ramps Up in Second-Home Markets

Related posts

ORHP’s service cycle from request to completion

jlspr

Inventory uptick signals more confident sellers

jlspr

Lennox Speaks With Herb Weisbaum (KOMO Radio) About The Puget Sound Housing Market

jlspr