Single-Family Construction Surges While Multifamily Slows

Dec 18, 2024 · Multifamily Facing Declines. While single-family housing surged, multifamily construction permits faced significant declines. Total permits for multifamily projects dropped 16.2% YTD, falling from 481,612 in 2023 to 403,422 in 2024. The downturn was especially …

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Single-Family Construction Surges While Multifamily Slows

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Single-Family Permits Surge As Multifamily Construction Faces …

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Dec 18, 2024 · The West led the charge in single-family construction, with a 13.6% year-to-date (YTD) increase in new permits, reflecting ongoing demand for new homes.

globest.com

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US Housing Starts – The Latest Revealed | Mortgage Professional

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Dec 21, 2022 · Single-family housing starts plunge while multifamily construction surges. ... signaling that home builders are preparing for a slow 2023. Single-family permits fell 7.1% to a …

mpamag.com

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Single-Family Starts See A Solid Rise In November While …

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Dec 31, 2024 · Construction Trends: What’s Being Built. The number of single-family units under construction dropped by 6.3% from a year ago, totaling 637,000 units. Multifamily units under …

dcd.com

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Single-Family Housing Starts Rise In September Amid Shifts In The ...

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Oct 23, 2024 · While single-family permits saw a slight 0.3% increase, reaching 970,000 units, multifamily permits dropped sharply by 8.9% to 458,000, the lowest reading since May. …

dcd.com

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Single-family Home Starts Rise In September While Multifamily ...

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Oct 18, 2024 · Building permits, a key indicator of future construction, declined 2.9% overall to a rate of 1.43 million units. Single-family permits saw a slight increase of 0.3% to 970,000 units, …

lesprom.com

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August Sees A Surge In Single-Family Home Starts, But Challenges …

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Sep 26, 2024 · Single-family permits rose by 2.8%, while multifamily permits surged by 9.2%. On a regional basis, permits increased by 0.7% in the Northeast and 2.1% in the Midwest, while …

dcd.com

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Multifamily Construction Booms, Single-Family Starts Slow

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Sep 21, 2021 · Multifamily starts, comprising mostly apartments, climbed 20.65% in August, while multifamily permits, a gauge of future construction, increased by 15.8%. Demand remains high …

nar.realtor

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Single-Family Still Dragging Down Residential Construction

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Nov 30, 2022 · Multifamily permitting reached 633,000 units in October, up 11.2% from last October, while multifamily starts increased 17.3% from last year to 556,000 units. With single …

realpage.com

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Plunge Of Single-Family Construction Starts In July Was Huge …

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Aug 16, 2024 · They were triggered by the data from the Census Bureau on construction starts of housing units in July: they dropped 6.8% from June, to a seasonally adjusted annual rate of …

wolfstreet.com

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Housing Starts Slow In January, Multi-Family Construction Surges

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Feb 16, 2023 · Housing starts reflected this still uncertain outlook and slowed in January. Total housing starts fell to 1,309,000 units in January, 4.5% below December’s revised figure, and …

realtor.com

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Why It's So Hard To Find Starter Homes In The U.S.

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1 day ago · Homes that are modest in size and price make up roughly 9% of new homes built in the U.S. That's down sharply from decades earlier.

cnbc.com

FAQs about Single-Family Construction Surges While Multifamily Slows Coupon?

Why did construction slow in the single-family housing market?

Immediately after the Federal Reserve began increasing interest rates in March 2022, construction activity in the single-family housing market began to slow. Homebuilders had been facing higher costs and construction delays due to supply chain disruptions. ...

Are there more multifamily units than single-family units under construction?

Data shows that there are more multifamily than single-family units under construction. Specifically, in September, 893,000 units in buildings with five units or more compared to 800,000 single-family units were under construction. ...

When did multi-family construction go down?

When single-family units under construction embarked on its nearly 6-year slowdown in February 2006, multi-family units remained largely flat until July 2008 and began to bounce back almost a year before single-family units. Trends have shown some change, though, for both multi-family and single-family construction. ...

Why did single-family homebuilders drop 32% in 2022?

Faced with weaker demand and a backlog of projects to complete, single-family homebuilders started fewer new homes and focused on completing existing projects. Single-family housing starts dropped 32% between March and December of 2022, eventually leading to a decline in overall homes under construction. ...

Is multifamily construction on the rise?

Data shows that multifamily construction is on the rise at the local level, especially in larger metro areas where single-family home construction is slowing. For instance, in Atlanta, GA metro area, the number of permits issued for five or more units has tripled during January and August of 2022 compared to the same period a year ago. ...

How many single-family units are under construction?

Specifically, in September, 893,000 units in buildings with five units or more compared to 800,000 single-family units were under construction. Meanwhile, it’s worth noting that the number of single-family units under construction has decreased for the last four straight months. ...