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Affordability limits new-home construction growth to exurbs

While exurbs posted a year-over-year single-family construction gain for the first quarter of 2019 (due to relatively housing affordability compared to other more costly geographies), the four-quarter average growth rate slowed to 0.3% in the second quarter as broader home building slowness expanded to these outer areas.

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New home building geography index Shows Single-Family Growth Limited to Exurbs Filed in Economics by NAHB Now on May 28, 2019 5 Comments In a sign that housing affordability is becoming a growing issue nationwide, as of the first quarter of 2019 exurbs were the only region that registered single-family permit growth on a year-over-year basis, according to the new NAHB Home Building Geography Index (HBGI).

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In a possible sign of economic softening in the industrial heartland, home construction in the nation’s major manufacturing areas registered declined on a year-over-year basis in the second quarter of 2019, according to the National Association of Home Builders (NAHB) Home Building Geography Index (HBGI). When the manufacturing sector was exhibiting stronger growth in 2017, the rate of home.

In the new Home Building Geography Index, only exurbs showed net single-family permit growth year over year.. "Supply-side issues that are hurting affordability and raising costs for builders.

NAHB’s Home Building Geography Index Shows Single-family Growth Limited to Exurbs As of the first quarter of 2019, exurbs were the only region that registered single-family permit growth on a year-over-year basis, according to the new National Association of Home Builders Home Building Geography Index (HBGI).

Laborers work on new home construction in California. Home builders are applying for permits to build houses in the "exurbs" more than any other area of the country, another sign of how the.

Nationally, the median new home price is 344,000. Allowing for wage growth over the period. to reduce the upper price limit on the scheme to incentivise construction at prices that a larger number.

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WASHINGTON – In a sign that housing affordability is becoming a growing issue nationwide, as of the first quarter of 2019 exurbs were the only region that registered single-family permit growth on a year-over-year basis, according to the new National Association of Home Builders (NAHB) Home Building Geography Index (HBGI).