Mortgage Industry News
« Return to Mortgage Industry News
More Evidence For Mass Exodus To The 'Burbs
Tuesday, September 1, 2020
It has been rumored since the first
wave of the coronavirus struck in some of the densely populated urban centers,
especially in New York and New Jersey. Now, however, there is substantiation of
a population shift from the National Association of Home Builders (NAHB). Its
second quarter Home Building Geography Index (HBGI) shows that, while the
pandemic caused widespread economic impacts for many businesses, housing has
weathered the economic storm, rebounding quickly from an April slump. It also
shows that, the only region posting a quarterly gain for single-family
construction during the second quarter was small metro suburbs. Litic Murali, writing in NAHB's Eye
on Housing blog says that more than 55 percent of the U.S. population resides
in "large metro areas" but these large areas make up only 8.2 percent of all
land in HBGI's surveyed areas (all of the U.S. excluding the territories.)
Read Full Article