Apartment completions reached a 30-year high in 2017 and beat the 2016 level by 30%, according to RealPage.
Last year, 364,713 units were completed in the 150 largest U.S. metros, more than doubling the long-term average and growing the U.S. apartment stock 2.1%.
The peak in completion volume was driven by 15 metros where construction has been particularly active in urban core areas, RealPage notes. Those 15 metros contributed roughly half of the nation’s new units in the past year.
Read more...Apartment Completions Reach 30-Year High in 2017 | Multifamily Executive Magazine