New townhouse construction is up year-over-year, according to the National Association of Home Builders.
During Q3 2024, single-family attached starts totaled 47,000, matching the highest quarterly count for townhouse construction since mid-2006. NAHB notes that over the last four quarters, townhouse construction starts totaled 177,000 homes – 20% higher than the prior four-quarter period (148,000 homes).
In Q3 of this year, the market share of newly-built townhouses was 17.4% of all single-family starts.
For many, the lure of affordability, low maintenance, community amenities, privacy and security draw people to townhouse living. They offer added space compared to an apartment or condo while still avoiding certain costs and responsibilities that come with owning a single-family detached house.
As more people search for homes in medium-density residential neighborhoods that offer walkability and amenities, the demand for townhouses may continue to grow.
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