The onset of the pandemic led to a decrease in multifamily housing demand in high-density cities as renters started to favor more spread-out communities in the suburbs. But big-city demand is coming back.<\/p>\n\n\n\n
Multifamily home building is gradually picking up pace in large metros once again, according to an analysis from the National Association of Home Builders.<\/p>\n\n\n\n
\u201cIn the wake of the public health crisis, there is a pronounced return to higher density markets or geographies, particularly in apartment and other multifamily residential construction,\u201d researchers note on the NAHB\u2019s Eye on Housing blog.<\/p>\n\n\n\n
Overall, about 67% of multifamily development occurred within large metro areas; 27% in small metro areas; and 6.1% in rural areas and small towns, according to the builder\u2019s analysis. Small metro areas are those considered as having less than one million total population.<\/p>\n\n\n\n
\u00a9National Association of REALTORS\u00ae
Reprinted with permission<\/p>\n","protected":false},"excerpt":{"rendered":"
The onset of the pandemic led to a decrease in multifamily housing demand in high-density cities as renters started to favor more spread-out communities in the suburbs. But big-city demand is coming back. Multifamily home building is gradually picking up pace in large metros once again, according to an analysis from the National Association of … <\/p>\n