‘Missing Middle’ Housing Production Disappoints in 2021
Residential projects that are neither single-family homes nor large apartment developments are often referred to as the missing middle of the construction sector. This includes medium-density housing like townhouses, duplexes and other small multifamily properties.
While townhouse construction has trended higher in recent quarters, the multifamily segment of the missing middle (apartments in 2 to 4 unit properties) has disappointed. For 2021, there were only 12,000 starts of such residences. This is flat from from 2020, during a period of time when most market segments expanded.
NAHB Chief Economist Rob Dietz provides more analysis in this Eye on Housing blog post.
Learn more about missing middle housing.
Latest from NAHBNow
Safety
Dec 12, 2025
Preventing Cold, Flu and COVID Illnesses on Jobsites Starts with a PlanIn the construction industry, working outdoors may appear to create less risk for catching a cold, flu, and COVID-19, but it’s crucial to understand that these illnesses can still spread while working in close proximity in any conditions.
Housing Finance
Dec 11, 2025
FHA Announces Forward Mortgage Loan Limits for 2026The Federal Housing Administration (FHA) today announced its 2026 Nationwide Forward Mortgage Loan Limits, which provides the maximum mortgage loan limits for single-family homes that are insured by the FHA.
Latest Economic News
Economics
Dec 11, 2025
Homeownership Rate Inches Up to 65.3%The latest homeownership rate rose to 65.3% in the third quarter of 2025, according to the Census’s Housing Vacancy Survey (HVS).
Economics
Dec 10, 2025
No Risk-Free Path: Fed Eases Monetary PolicyThe central bank’s Federal Open Market Committee (FOMC) cut rates a third and final time in 2025, reducing the target range for the federal funds rate by 25 basis points to a 3.5% to 3.75% range. This reduction will help reduce financing costs of builder and developer loans.
Economics
Dec 09, 2025
Construction Labor Market StableThe count of open, unfilled positions in the construction industry was relatively unchanged in October, per the Bureau of Labor Statistics Job Openings and Labor Turnover Survey (JOLTS). The current level of open jobs is down measurably from two years ago due to declines in construction activity, particularly in housing.