U.S. homebuilders are leaning into single-family construction as multifamily development faces a sharp slowdown, signaling a shift in priorities for developers and investors alike. The National Association of Home Builders’ latest report reveals that single-family housing starts jumped 6.4% in November to a seasonally adjusted annual rate of 1.01 million units.
The NAHB found that year-to-date single-family starts are up 7.2%, driven by limited resale inventory that’s forcing more buyers toward new homes. Builders are doubling down on the single-family sector as demand remains firm, with permits for new single-family homes inching up 0.1% to a rate of 972,000 units in November — an 8% increase from the same period last year.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
