Many construction economists have projected the multifamily residential market to be one of the most active construction sectors for 2013. This is welcome news for multifamily builders as well as for general contracting firms that are involved in this sector, and the impetus for many other companies to jump in while the going is good. As illustrated in the chart below, the National Association of Homebuilders (NAHB) is forecasting 299,000 multifamily housing starts for 2013 which is a 22% improvement over 2012. Complementing this data is the fact that, for three consecutive quarters, the Multifamily Production Index (MPI) has been above 50, which indicates optimism across the industry.
Read more...Multifamily Construction – Its Growth, Drivers Hot U.S. Markets Via HelblingSearch.com
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