"Exurbs" Become Hot Spots For Americans
If you haven't heard of exurbs before, now may be the time to learn about them. A new report revealed that there has been an increase in both buying and building activity in these areas.
Exurbs are remote areas that are just a little ways away from affluent suburbs, according to a HousingWire report. The National Association of Home Builders reported that exurbs were the only areas that saw an annual increase in single-family permits for the first quarter of 2019.
"Posting a 1.6% year-over-year gain, the exurbs are home to just 9% of the nation’s single-family construction," according to HW.
"But while this might not seem like much, its share is growing – a fact that some analysts say is raising red flags."
The reason behind most of the concern comes from the fact that exurbs saw an increase in activity just before the burst of the housing bubble. Following the burst, many of these areas were left vacant with builders heavily in the red.
To learn more about exurbs and why more Americans are flocking to these areas, click on the image above.
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