Rising costs are making townhomes more attractive—not just for builders, but for buyers as well. Townhome construction has grown over the last year, making up nearly 13% of all single-family starts, an increase of 38% in one year, BUILDER reports.
Robert Dietz, chief economist of the National Association of Home Builders, is bullish on townhome growth, believing they could comprise more than 15% of all single-family home starts over the coming years. That would put townhome construction at a record high.
“Many builders are turning to this product, as the price point for sale is lower, and it allows them to build more units,” Brian Lawrence, vice president and relationship manager at Univest Bank and Trust Co., told BUILDER. “Profit on the project increases with increased density.” Read more