A trend of higher demand for housing in lower-density areas reported in the second quarter National Association of Home Builders (NAHB) Home Building Geography Index (HBGI) has persisted into the fall, as single-family and multifamily construction continued to overperform in lower cost markets like suburbs and exurbs.
Home became everything when stay-at-home orders were issued in the spring due to the COVID-19 pandemic, and Americans’ attitudes about their present and future home needs continue to transform in the months since then.
Confidence in the multifamily housing market continued to recover from its 1st quarter trough, with the Multifamily Production Index (MPI) rising to 48 in the third quarter (up from 37 in the second quarter and 27 in the first quarter), according to the National Association of Homebuilders’ Multifamily Market Survey.
US contractor Link Construction, based in Shakopee, Minnesota, cut the construction time of two new homes by three weeks by using one Potain Igo MA 21 self-erecting crane which could reach the entire jobsite.
This ambitious project covers three city blocks and consists of three construction projects being carried out simultaneously including two distinct mid-rise apartment buildings, and a cluster of townhomes.
A second wave of business impacts from COVID-19 is reverberating through construction contractors’ operations, and those consequences are getting worse as the pandemic wears on, according to the latest survey results from the Associated General Contractors of America (AGC).