Second-Home Counties
Total population 17,327,501; 5.4% of total U.S. population
The Q3 2020 rollout of the HBGI, in addition to its usual, region-level classification of counties, features a segmentation of the housing market based on counties with a high concentration of houses that serve as additional residences. Defined as non-rental properties that are not classified as taxpayers’ principal residences, NAHB designates them as “second homes”, with ”high-concentration second-home counties” defined as having more than 15% of their housing units serving such a function.
- 9.9% of single-family construction for 3Q20
- 28.4% single-family quarterly growth rate for the 3Q20
- 23.2% single-family year-over-year growth rate (3Q20 vs 3Q19) 13.6% single-family 4-quarter MA of the year-over-year growth rate
- 5.2% of multifamily construction for 3Q20
- 6.3% multifamily quarterly growth rate for the 3Q20
- -16.9% multifamily year-over year growth rate (3Q20 vs 3Q19)
- 11.1% multifamily 4-quarter MA of the year-over-year growth rate