Small Metro - Outlying County

Total population 21,964,544; 6.7% of total U.S. population

Single-Family Construction

• 9.5% of single-family construction for 4Q22
• -23.1% single-family quarterly growth rate for the 4Q22
• -27.3% single-family year-over-year growth rate (4Q22 vs 4Q21)
• -11.7% single-family moving average of the year-over-year growth rate

Multifamily Construction

• 3.9% of multifamily construction for 4Q22
• -12.4% multifamily quarterly growth rate for the 4Q22
• 3.9% multifamily year-over-year growth rate (4Q22 vs 4Q21)
• 22.5% multifamily moving average of the year-over-year growth rate