According to NAHB analysis, during the fourth quarter of 2022, single-family attached starts totaled 37,000, which is 8% lower than the fourth quarter of 2021. Over the course of 2022, townhouse construction starts totaled 148,000 units, which is effectively unchanged from 2021. Using a one-year moving average, the market share of newly-built townhouses increased to 15% of all single-family starts for the fourth quarter. As denser areas reopened following covid later, the townhouse market rebounded later. Additionally, as the spec single-family building market slowed in recent quarters on higher interest rates, the townhouse construction market share has increased. In fact, the current 15% market share is the highest since 1985.