The missing middle construction sector includes development of medium-density housing, such as townhouses, duplexes and other small multifamily properties. The multifamily segment of the missing middle (apartments in 2- to 4-unit properties)
According to NAHB analysis of quarterly Census data, the count of multifamily, for-rent housing starts declined significantly during the second quarter of 2024. For the quarter, 88,000 multifamily residences started
High interest rates for construction and development loans as well as ongoing challenges regarding labor shortages and higher prices for many building materials continued to slow the building market this
Over the first half of 2024, the total number of single-family permits issued year-to-date (YTD) nationwide reached 514,728. On a year-over-year (YoY) basis, this is an increase of 14.6% over
Confidence in the market for new multifamily housing declined year-over-year in the second quarter of 2024, according to results from the Multifamily Market Survey (MMS) released today by the National
Private residential construction spending was down 0.3% in June, after a dip of 0.7% in the prior month, according to the Census Construction Spending data. Nevertheless, it remained 7.3% higher
Private fixed investment in student dormitories declined 5% to a seasonally adjusted annual rate (SAAR) of $3.7 billion in the second quarter of 2024, after a 2.8% decrease in the
Elevated interest rates for home mortgages and construction and development loans kept single-family production and demand in check during June. Overall housing starts increased 3.0% in June to a seasonally
Reaching the highest level of multifamily completions since 1987, 450,000 multifamily units were completed in 2023, with 216,000 units completed in buildings with fewer than 50 units according to NAHB
Private residential construction spending was down 0.2% in May after surging 0.9% in the prior month, according to the construction spending data by the U.S. Census Bureau. Nevertheless, spending remained
Single-family and multifamily housing starts fell in May as high interest rates for construction and development loans and elevated mortgage rates held back both housing supply and demand. Overall housing
Over the first four months of 2024, the total number of single-family permits issued year-to-date (YTD) nationwide reached 336,124. On a year-over-year (YoY) basis, this is an increase of 25.3%
Fueled by a lack of existing inventory and pent-up demand, single-family permit growth is occurring across all tracked geographic regions of the nation. The opposite holds true for the multifamily
Private residential construction spending rose 0.1% in April, following a 0.4% decline in March. The seasonally adjusted annual pace reached $890.4 billion. Total private residential construction spending is 8% higher
The Census Bureau’s latest release of the Survey of Market Absorption of New Multifamily Units (SOMA) estimates that 42% of 91,060 unsubsidized apartments completed in the fourth quarter of 2023
The missing middle construction sector includes development of medium-density housing, such as townhouses, duplexes and other small multifamily properties. The multifamily segment of the missing middle (apartments in 2- to 4-unit properties)
According to NAHB analysis of quarterly Census data, the count of multifamily, for-rent housing starts declined significantly during the first quarter of 2024. For the quarter, 80,000 multifamily residences started
Over the first three months of 2024, the total number of single-family permits issued year-to-date (YTD) nationwide reached 241,311. On a year-over-year (YoY) basis, this is an increase of 25.9%