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The National Association of Home Builders reports that the single-family market share for exurbs has seen steady growth since 2011.
The association also reports that the market share of single-family homes in small city core areas has declined slightly over the last eight years, “starting initially from a little less than 30% of single-family home construction for the third quarter of 2011. After falling to a cycle low in 2014 the share returned to its approximate starting point. This pattern reflects the fact the post-Great Recession home construction recovery occurred later for small metro areas than other parts of the country.”
In contrast, there has been steady market share expansion for the exurbs. With an initial market share of 6% in the third quarter of 2011, home building has expanded in these outlying areas of large metro to 9% by the end of the first quarter of 2019. Declining housing affordability conditions had provided a relative advantage to outlying areas with more affordable land.
