Chicago Townhome Construction on the Rise

September 23, 2012

chicago townhome construction increasesAccording to a report issued by the National Association of Home Builders, more townhomes may soon be coming to the real estate in Chicago market.

The report revealed that construction of townhomes has been increasing in the areas of total units and market share. Construction increased so significantly in recent months that it matched a post-Recession high.

What makes townhomes so popular? Many homebuyers are looking to live in locations with medium density, but don’t want to miss out on walkable environments and other amenities that many townhome complexes offer.

The market share of townhomes currently stands at 11 percent of all single-family starts, which is an improvement from the 10.4 percent rate that occurred in the first quarter of 2012.

Townhomes hit their peak market share of the past two decades during the first quarter of 2008, when share reached 14.6 percent. Prior to this, townhome share had been increasing at a consistent rate since the early 1990s.

So if the recent numbers are any indication, you can expect to see more townhomes for sale in your local area.

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