Multifamily Construction Shifts to Lower Density Markets in 3Q20

Multifamily construction shifted into less dense markets during the third quarter of 2020, per the latest NAHB Homebuilding Geography Index (HBGI). This change is similar to the evolving geography for single-family home building, as housing demand moved to lower cost, more affordable markets. The multifamily data confirm that these shifts in demand are not just occurring for single-family home building but for all forms of residential real estate in response to the increase in telecommuting and other virus crisis impacts.

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