The NAHB’s Eye on Housing says high housing costs have contributed to a downward shift in single-family housing starts in the nation’s in the densest counties. In addition, they point out that multifamily growth was robust throughout much of the country at the end of 2022 except in high-density markets. Their findings are from the NAHB’s Home Building Geography Index (HBGI) for Q4 2022.
“The market share in the single-family market has consistently been changing since the pandemic. As many families move out of densely populated urban centers, there has been more single-family building in outlying areas of metros, small metros, and non-metro areas.”