By Ashok Chaluvadi
Copyright © 2016 NATIONAL ASSOCIATION OF HOME BUILDERS
According to data from the Census Bureau’s Survey of Construction (SOC), 58 percent of all homes started in 2014 were built within a community or home owner’s association. The Census Bureau defines a community or homeowner’s associations as “formal legal entities created to maintain common areas of a development and to enforce private deed restrictions; these organizations are usually created when the development is built, and membership is mandatory.”
When analyzed by the 9 census divisions, the highest share was in the Mountain Division (Arizona, Colorado, Idaho, Montana, Nevada, New Mexico, Utah, and Wyoming) where 76.5 of new homes were in such communities.
In the South Atlantic Division (Delaware, District of Columbia, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, West Virginia) 72.2 percent of new homes in 2014 had a community or home owner’s association, followed by the West South Central Division (Arkansas, Louisiana, Oklahoma, Texas) at 63.4 percent, and ... Read the entire article at the NAHB Eye on Housing blog