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Marketplace Morning Report

The townhouse makes a comeback

Amy Scott Jun 18, 2019
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A "For Sale" sign in the front yard of a D.C. townhouse.
Drew Angerer/Getty Images

Before the housing crash a decade ago, Ole South Properties built a lot of townhouses in Tennessee. Then, the bottom dropped out of the market.

“The foreclosure crisis made single-family homes less expensive than a new town home, so that kind of killed the category,” said vice president Trey Lewis.

Today, as more buyers are priced out of detached single-family homes, demand is back. Nationally, townhouse construction grew 15% last year. Analysts expect the market to keep growing.

Click the audio player above to hear the full story.

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