Multifamily building to beef up 30% in 2012 via HousingWire

Describing the performance of multifamily building as better than most recoveries, Fannie Mae forecasts that the sector will expand by nearly a third in 2012.

While single-family housing starts declined sharply in February, reversing gains during the previous two months, multifamily permits posted a strong increase for a second 
consecutive month.

Fannie expects multifamily housing starts to jump 30% from 178,000 in 2011 to 231,000 in 2012. And then to 278,000 the following year.

Consumers’ expectations of rising home prices in 2012 are gaining traction, with expectations extending for the fifth consecutive month, as indicated by a Fannie Mae housing survey in March.

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