Continued Rise in Community Associations in New Homes Built
*By Ashok Chaluvadi on December 26, 2019 on National Association of Home Builder's Website - www.eyeonhousing.org*
Continued Rise in Community Association in New Homes Built
According to data from the Census Bureau's Survey of Construction, 62.5 % of all homes started in 2018 were built within a community or homeowner's association. A total of 543,000 homes with community associations were started in 2018, compared to 508,000 in 2017. The Census Bureau defines community of 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."
The share of all new homes built within a community or homeowner's association continue to increase over the years.
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