"September housing starts increased to a 1.206 million-unit seasonally adjusted annual rate – the highest level seen since 2007. This increase was entirely a result of gains in the multifamily sector which, rose 18.3% to a rate of 466,000. Meanwhile, private multifamily spending reached $57 billion, up by 27% from this time last year. As multifamily construction remains strong, the share of one-bedroom apartments is rising and rental apartment market absorption rates are at a stable and strong pace. The demand for housing continues to grow, with existing home sales rising for 12 consecutive months.
Since the creation of the affordable housing tax credit in 1987 to 2013 – the year of the most recent American Community Survey – approximately 13.3 million people have benefited by living in homes financed by the credit...."
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Multifamily Outlook November 2015
www.NAHB.com
Ann Marie Moriarty