Dive Brief:
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The townhouse is making a comeback as first-time homebuyers and downsizing empty-nesters look for smaller and more-affordable alternatives to single-family houses.
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The Bergen County (NJ) Record quoted several national and state housing experts saying builders have renewed their focus on attached, two-story homes in suburbs as a way to compete with increasingly popular urban apartments.
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Since 2000, townhouse construction has accounted for approximately 10% of new, single-family homes, according to the National Association of Home Builders. Last year, townhouse starts equaled 12% of new, single-family construction nationwide.
Dive Insight:
As first-time buyers return to the market, the demand for townhouses could pick up.
"Townhouses and condos,” New Jersey developer Scott Loventhal told the newspaper, “have become the equivalent of the starter home of the last generation."