FAQs

What is the current trend in townhouse construction?

The current trend in townhouse construction shows year-over-year gains, with demand for medium-density housing remaining solid despite a slowdown in other sectors of the building industry.

How does townhouse construction compare to previous years?

During the second quarter of 2024, single-family attached starts totaled 42,000, which is 8% higher than the same period in 2023. Over the last four quarters, townhouse construction starts totaled 174,000 homes, a 23% increase from the prior four-quarter period.

What is the market share of newly-built townhouses?

Using a one-year moving average, the market share of newly-built townhouses stood at 17.2% of all single-family starts for the second quarter of 2024. The four-quarter moving average market share remains at the highest on record.

Conclusion

The continued growth in townhouse construction highlights the demand for medium-density housing options among homebuyers. With urban villages and walkable neighborhoods becoming increasingly popular, the prospects for townhouse construction remain positive in the long run. As the market share of townhouses continues to increase, it is clear that this segment of the housing market plays a significant role in meeting the diverse housing needs of buyers.