Apartment construction – including and especially in suburban markets nationwide – continues to flourish.
Single-family home building activity that occurred in the aftermath of the COVID-19 pandemic in large metro outlying counties and exurban areas, however, has shown a marked decline over the past 12 months, according to the latest findings from the National Association of Home Builders (NAHB) Home Building Geography Index (HBGI) for Q3 2022.
Meanwhile, HBGI's submarkets in multifamily home building showed increases in growth between the third quarter of 2021 and the third quarter of 2022 for large and small markets as metro area economies reopened following covid-era restrictions.
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