Americans continue to flock to new single-family detached housing, according to new US Census Bureau figures through the third quarter of 2005, which indicate the share of new housing starts in single family detached housing rose 1.2 percentage points between 2004 and 2005.
"US Census Bureau figures through the third quarter of 2005 indicate the share of new housing starts in single family detached housing rose 1.2 percentage points between 2004 and 2005 (from 71.4 percent to 72.6 percent). The 72.6 percent detached share is at its highest point in six years.
New multiple family for-sale housing (principally condominiums) also exhibited a healthy trend, also up 1.2 percentage points between 2004 and 2005 (from 6.1 percent to 7.3 percent)...Virtually all of the increase in condominium housing starts has been at the expense of the rental market, not the single family detached market. From 2004 to 2005, rental unit housing starts fell 2.1 percentage points, more than the 1.2 percentage point condominium gain."
[PDF, 2 pages, 100KB)
Thanks to Wendell Cox
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