Starts and permits in multifamily construction continue to outpace year-ago totals, though remain below 20-year averages. Multifamily starts increased 75% in April from the year-ago period while permits rose 12.5%, according to Census Bureau data released Wednesday.
KBW analysts expect apartment construction growth to continue, though it could hamper rising rental costs by 2014 as more supply hits the market.
But in areas with new supply expected by next year — including Dallas, Seattle, Raleigh, N.C., San Jose, Calif., and Austin, Texas — rental costs could taper off earlier.
Read more...Multifamily supply could hinder rent growth by 2013 in some markets | HousingWire
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.