{"id":18335,"date":"2021-01-11T12:41:01","date_gmt":"2021-01-11T12:41:01","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=18335"},"modified":"2021-01-11T12:41:01","modified_gmt":"2021-01-11T12:41:01","slug":"housing-construction-ramps-up","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/housing-construction-ramps-up\/","title":{"rendered":"Housing Construction Ramps Up"},"content":{"rendered":"

Housing Construction Ramps Up<\/h1>\n
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As remote work has grown and more Americans are no longer bound down to a long commute, more people are being drawn to the idea of a second home. Builders are responding to the uptick in interest.<\/p>\n

Single-family construction in second-home markets rose at a 13.6% average rate in the third quarter annually compared to a 10.5% pace in other counties, according to data from the National Association of Home Builders.<\/p>\n

Multifamily development in second-home markets is also on the rise. Multifamily development increased 11.1% in second-home counties while it declined by 0.9% in other areas during the third quarter, according to the NAHB.<\/p>\n

The NAHB identified high-concentration second-home counties as those where the majority of the local housing stock is not classified as the taxpayer\u2019s principal residence and a big portion consists of non-rental properties.<\/p>\n

As of 2018, Americans owned about 7.4 million second homes\u2014about 5.6% of the nation\u2019s housing stock, according to the NAHB.<\/p>\n

\u201cIn addition to generating a suburban shift, the COVID-19 pandemic also produced demand changes that benefited second-home communities,\u201d the NAHB notes on its Eye on Housing blog. Many of these communities are located in less densely populated areas, such as small towns or rural areas. Nearly 70% of second-home counties are located in rural areas, the research shows.<\/p>\n

\u201cRemote work arrangements have made it possible for some wealthier Americans to move to alternate locations that are not just small, suburban shifts from within their current metro area,\u201d the NAHB notes on its blog. \u201cMore fundamentally, second-home demand may also be benefiting by an acceleration of retirement plans, as well as stock market gains.\u201d<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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Source:<\/div>\n
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\u201cSecond Home Markets Show Construction Growth<\/a>,\u201d National Association of Home Builders\u2019 Eye on Housing blog (Dec. 18, 2020)<\/div>\n
\u00a9National Association of REALTORS\u00ae
\nReprinted with permission<\/span><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Housing Construction Ramps Up As remote work has grown and more Americans are no longer bound down to a long commute, more people are being drawn to the idea of a second home. Builders are responding to the uptick in interest. Single-family construction in second-home markets rose at a 13.6% average rate in the third … <\/p>\n

Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-18335","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"\nHousing Construction Ramps Up - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/housing-construction-ramps-up\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/housing-construction-ramps-up\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/housing-construction-ramps-up\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"Housing Construction Ramps Up\",\"datePublished\":\"2021-01-11T12:41:01+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/housing-construction-ramps-up\\\/\"},\"wordCount\":296,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/housing-construction-ramps-up\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/housing-construction-ramps-up\\\/\",\"name\":\"Housing Construction Ramps Up - 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