Multifamily housing starts of buildings with five or more units rose by 42.9 percent over the month of April 2014 to a seasonally adjusted annual rate of 413,000 units, according to the National Association of Home Builders (NAHB). The three-month moving average of multifamily housing starts, now exceeds 301,000 units‑the average recorded between 2000 and 2007, according to NAHB.
Metropolitan area statistics compiled by Marcus & Millichap shows that apartment completions increased 15 percent in the top metros in the first quarter, compared to the first quarter 2013. Effective rents in top metros rose by 3.4 percent, and vacancies fell by 0.1 percent, during the first quarter compared to a year ago.
Read more...APARTMENT MARKET STATISTICS: August 2014 | Multi-Housing News Online
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