Currently Reading

Residential Construction Increased 20% in Outlying Counties in 2020

Advertisement
Construction

Residential Construction Increased 20% in Outlying Counties in 2020


March 3, 2021
Residential construction
Photo: trongnguyen

Single-family construction boomed in the suburbs, exurbs, and rural communities in 2020—a direct result of the COVID-19 pandemic, according to the National Association of Home Builders’ Home Building Geography Index (HBGI). To meet homebuyer demand for lower density, more affordable housing, home builders ramped up construction in the second half of 2020. Small metro areas, suburbs, and exurbs of both small and large metro areas experienced the greatest growth, but outlying counties of smaller metro areas saw a 20.7% growth rate. Large metro core areas experienced the slowest growth rate at 9.1%.

Lower-density markets gained 1 percentage point in their combined market share of home building over 2020, ending with 48.6% at the end of the fourth quarter. This represented an acceleration of an existing trend due to affordability conditions.

While all regional submarkets showed growth in the fourth quarter, the submarkets of large metro areas (core and suburban counties, and exurbs) lost traction as evidenced in their declining market shares. These areas saw their share of single-family home building decline from 52.4% to 51.4%, a statistically significant decline.

Read More
 

Related Stories

Coronavirus Resources and Information

NAHB to Kick Off COVID-19 Vaccine Awareness Week

The National Association of Home Builders and its construction industry partners are teaming up for COVID-19 Vaccine Awareness Week from April 19…

Building Materials

Reduce Lumber Usage With a Lean Strategy

On this episode of The Weekly, TrueNorth Development President Scott Sedam lays out a six-week process for builders to significantly cut their…

Building Materials

Lumber Prices Expected to Surge Even Higher

Skyrocketing lumber prices have kept some builders away from purchasing in hopes costs would level out, but now lumber prices are expected to…

Advertisement
Advertisement

More in Category




Advertisement
Advertisement

Create an account

By creating an account, you agree to Pro Builder's terms of service and privacy policy.


Daily Feed Newsletter

Get Pro Builder in your inbox

Each day, Pro Builder's editors assemble the latest breaking industry news, hottest trends, and most relevant research, delivered to your inbox.

Save the stories you care about

Lorem ipsum dolor sit amet lorem ipsum dolor sit amet lorem ipsum dolor sit amet.

The bookmark icon allows you to save any story to your account to read it later
Tap it once to save, and tap it again to unsave

It looks like you’re using an ad-blocker!

Pro Builder is an advertisting supported site and we noticed you have ad-blocking enabled in your browser. There are two ways you can keep reading:

Disable your ad-blocker
Disable now
Subscribe to Pro Builder
Subscribe
Already a member? Sign in
Become a Member

Subscribe to Pro Builder for unlimited access

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.