Page 11 - Sites_August 16

TOWNHOUSE CONSTRUCTION IS GROWING
According to current economic conditions, it appears demand will support more growth for townhouse development
BY ROBERT DIETZ
BUILDER ONLINE
In a housing market that needs additional inventory, builders are often called upon to develop more entry-level housing. However,
even as the new-home market has shifted to the high end, there is one submarket in the home building industry that is both growing and providing a separate product option: townhouse construction.
In recent years there has been a notable shift for new construction, characterized by larger, more expensive homes. For example, according to Census Bureau data from May, less than 20% of newly built single-family homes were
priced below $200,000. And as of the rst quarter of 2016, the average size of a new home was just under 2,700
square feet, larger than during the housing boom.
continued page 12
11