This article discusses the current trends in single-family construction in the United States. The recent shift away from large urban areas towards smaller and less dense cities appears to be playing a major role in this trend. This shift is likely due to the fact that, when compared to smaller cities and towns, large cities, on average, tend to have much higher costs associated with land acquisition, labor, and material, as well as more complex regulatory requirements. Furthermore, large cities are also often subject to greater market fluctuations compared to smaller cities.
The article also mentions that suburban and rural areas are now often seeing much stronger homebuilding activity when compared to cities. This trend is likely the result of the need for increased housing affordability and the desire for increased space for growing families. Many people are moving away from living in large cities and instead opting for areas with lower costs of living, more affordable housing, better schools, and more open space.
Furthermore, the article discusses the impact of this shift in single-family construction on the overall housing market. This shift is likely to have a significant impact on home values, rental prices, and housing affordability in certain large cities that are currently seeing their single-family construction levels dwindle. In addition, it could also lead to increased home values and rental prices in the small cities and towns that are now seeing greater homebuilding activity.
Overall, the current trends in single-family construction are proving to be quite significant. This shift away from large urban areas towards smaller and less dense cities has already had a discernible impact on the overall housing market and is likely to continue to do so as more people move away from large cities in search of better affordability and quality of life.
You can read this full article at: https://www.housingwire.com/articles/single-family-construction-is-shifting-away-from-large-urban-areas/(subscription required)
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