Builders are trying to figure out which areas of the country will see the next big population gains requiring residential and multifamily construction projects.
Research firm Pitney Bowes Software recently projected which metro areas are expected to see some of the largest growth in household formation in the next five years. Most of the areas projected to grow the fastest also tend to be the same ones that grew the fastest in the last decade, such as Houston and Atlanta.
Pitney Bowes Software projects that the following metro areas will see some of the largest gains in household formation over the next five years:
- Washington, D.C.
- New York
- Riverside-San Bernardino, Calif.
- San Antonio, Texas
- Austin, Texas
- Fort Worth, Texas
Source: “Mapping Where to Build Next,” The Wall Street Journal (Nov. 26, 2012)