2012 shaping up as a strong year for multifamily construction starts via HousingWire

This year could bring a turnaround in both single-family and multifamily housing construction starts, analysts at Capital Economics said.

Capital Economics made its assertion after the National Association of Home Builders reported homebuilder confidence in the single-family segment rose for the fifth consecutive month in February, marking a four-year high.

Analysts at Barclays Capital ($15.03 0%) see the news as positive for homebuilder performance and said it presents an "compelling opportunity at current valuations," in a note emailed to clients. "We believe this is an early read on a strong Spring selling season," remarked analyst Stephen Kim in regards to the results of the latest homebuilder survey.

In fact, the multifamily segment is braced for a positive year, Capital Economics said, with starts in the segment last year rising 56% to 177,000 units, three times higher than the sector's previous low.

Read more...2012 shaping up as a strong year for multifamily construction starts via HousingWire