Due to their small size size and affordability, townhomes are growing in popularity
Nov. 25, 2024
Kirk Fisher / stock.adobe.com
Townhome starts increased during Q3 2024 due to their affordability and popularity with homebuyers.
As homebuyers opt for smaller, more affordable homes, townhome construction is on the rise. According to the National Association of Home Builders’ Eye On Housing blog, townhome construction starts grew year-over-year. In Q3 2024, single-family attached starts totaled 47,000, making up 18% of total housing starts during this time. Over the last four quarters, townhouse construction starts totaled 177,000 homes—20% higher than the previous four-quarter period when townhome starts reached 148,000.
Using a one-year moving average, the market share of newly-built townhouses stood at 17.4% of all single-family starts for the third quarter. With recent gains, the four-quarter moving average market share remains at the highest on record, for data going back to 1985.Read more
