Townhomes on Top

March 13, 2019
In 2018, townhome construction was up, and surpassed other sectors throughout the year. Despite some market softening in the fourth quarter, experts predict "further expansion" for townhome construction in 2019.
Photo: Unsplash/Brian Sumner

In 2018, townhome construction was up, and surpassed other sectors throughout the year. Despite some market softening in the fourth quarter, experts predict "further expansion" for townhome construction in 2019.

Based on Census starts and completions data, the National Association of Home Builders' analysis says that shifting renter demographics, added demand for walkable communities, and ongoing land tightness are major drivers suggesting further growth in the townhome sector. Townhome starts were up 14 percent overall in 2018 over 2017, five times the rate of growth for all single-family construction, with a total 119,000 units.

Townhouses, or single-family attached housing, accounted for 25,000 starts during the final quarter of 2018, although this was lower than the 29,000 total for the final quarter of 2017. Using a one-year moving average, the market share of new townhouses stands at 13.8 percent of all single-family starts, near a post-recession high.

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PB-New Construction Projects,PB-Construction,PB-Industry Data + Research,PB-Builders,PB-Townhomes,PB-Single Family Homes
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