Home Building in Lower-Density Markets Increases

According to findings in the National Association of Home Builders Home Building Geography Index (HBGI), small cities and rural areas are seeing residential construction activity expand at a more rapid rate. This is a trend that had already been taking place, but it looks as though the COVID-19 pandemic is leading to an increase of development in lower density markets.

The HBGI data shows single-family construction expanding across all seven HBGI-tracked economic geographies, but the the strongest average growth rate was found in outlying suburbs (exurbs) of small metro areas. This trend is likely to continue on account of the Coronavirus and concerns over high-density lifestyles leading to public health vulnerabilities.

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