Media

U.S. Multifamily Starts Fall 16% in September

October 30, 2020

Multifamily construction starts in the U.S. dropped 16.3 percent in September, following a 25.9 plunge in August, as apartment developers continued to shift their focus away from urban high-rises and demand for single-family homeownership remained elevated, according to a new report by Marcus & Millichap.

The fourth-quarter special report on housing finds that single-family home sales, residential construction and renovations picked up shortly after stay-at-home orders were lifted in the spring. Contributing to the rebound was a shift in preferences as many people reevaluated their living arrangements and added features such as home offices and outdoor entertainment areas to their list of desired upgrades.
Read the Full Article
MM Texture Background