Attached Housing Units Rising In Popularity

March 1, 2007

A few years ago, the vast majority of newly constructed homes were single-family detached residences, often with large yards. Today, it’s a different story. Within the past few years, there’s been a significant swing toward attached units – e.g., condominiums, townhomes. In these residential units, buyers share walls, common areas such as walks, pools, club houses, even yards.

The most obvious advantage of an attached home is cost. The price of a high quality condo or townhouse is less than a comparable single-family detached home. They are both expensive in today’s market, but the attached units are less expensive because per-unit building expenses are less. Other factors that appeal to today’s home buyers relate to security, professional management of the property, freedom to leave their unit unattended for extended periods, and some residents like the community aspect of living in this type of complex.

Attached housing was once known as being most popular with young, first-time home buyers and retiring seniors. Today, it’s becoming the home of choice by all ages of buyers and their level of affluence. Especially popular are attached units constructed or converted in downtown areas, close to major employers.

The trend toward attached housing has reached the point where more than half of new housing construction starts in many major markets are attached housing. This was determined by Hanley Wood Market Intelligence, a research firm that gathers data on home sales in markets nationwide

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