Multifamily Construction Activity Above Historical Averages

Increased multifamily construction activity seems to correlate to markets where there is a tight supply of existing homes

CNBC

Multifamily construction has reached above historical averages in more than one quarter of the United State's largest metropolitan housing markets, according to a report from real estate listing and analytics company Trulia. These numbers seem to correlate to markets where there is a tight supply of existing homes.

Steady Increase in Multifamily Drives Increase in Total Residential Construction Spending

In New York, multifamily construction activity is four times the normal average. Boston is seeing triple its average, and Newark, N.J., is experiencing double its average.

NYC Metro Area Leads Nation in Commercial, Multifamily Construction Starts in 2015

Dallas, Houston, Seattle, Los Angeles and San Francisco are also seeing above average apartment construction and below average supply of homes for sale.

Multifamily Housing Starts Drive 9.8% June Growth

In addition, the apartment vacancy rate was at 4.2% in the second quarter, which is its lowest level since 2001.

(more on the boom in U.S. multifamily construction activity...)

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