Building Geography Index Report (HBGI)

The National Association of Home Builders (NAHB) has released its latest report on the growth rates and market shares of single-family and multifamily housing in the United States. The data, which does not include seasonal adjustments, is categorised regionally to provide a comprehensive analysis of housing growth trends.

The U.S. counties are divided into seven regional categories based on population density and geographical location. These categories are utilised to analyse both single-family and multifamily housing growth and market trends.

According to the report, the second quarter of 2025 saw a notable surge in residential construction, particularly in more rural areas with lower population densities. This growth is thought to be driven by factors such as the availability of land and potential migration trends favouring less dense regions. However, overall construction activity remained relatively subdued nationally due to broader economic and industrial weakness.

NAHB closely monitors the market shares of both single-family and multifamily housing in each regional category. In addition, the organisation tracks the growth rates of these housing types without seasonal adjustments. The data file of the full HBGI findings, which includes this information, is available for download, allowing for further analysis of regional building growth conditions.

This report provides valuable insights into the current state of the U.S. housing market and offers a regional perspective on housing growth trends. As the housing market continues to evolve, the NAHB will undoubtedly continue to monitor and report on these trends to help industry professionals and policymakers make informed decisions.

For those interested in accessing the full data file of the HBGI findings, it can be downloaded here.