A healthy volume of new supply will start hitting the streets this year.
Given the two-year lead time on new construction projects, and the fact that construction lenders awoke from recessionary slumber roughly two years ago, the flood gates are starting to crack open.
Dallas-based Axiometrics is currently tracking close to 1.4 million units in varying stages of the construction pipeline, across 328 metro statistical areas (MSAs) and 833 submarkets. Of this total, the firm expects more than 164,000 units to deliver during 2013, nearly double the number delivered in 2012.
Read more...Construction Pipeline Forecast: 2013 and Beyond - Multifamily Building - Multifamily Executive Magazine
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