On a metro area basis, a few individual cities in the top 10 markets for apartment permits posted impressive year-over-year gains in October. On the whole, though, permit totals are plateauing, says RealPage.
Citing Census Bureau data, RealPage says local governments across the country approved 416,000 apartment units in the year-ending Oct. 31. That permitting activity, including 40,087 units authorized during the month of October, represents a 13.4% increase over September’s annual volume—which was down 17.4% from the previous month—and a 12.2% decline from October 2016’s annual total.
Read more...Multifamily Permits Are Plateauing | GlobeSt.com
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