Apartment Permits in U.S. Hit Two-Year Low on Glut, Rising Costs via NREI

It looks like U.S. apartment and condominium builders are reacting to rising costs and a supply glut the same way: slowing down.

Multifamily housing permits -- - those for buildings with two or more units -- dropped last month to the lowest level since March 2016, government figures showed Wednesday. That follows signs of an oversupply of apartments in some U.S. markets, but higher costs are also having an impact.

Read more...Apartment Permits in U.S. Hit Two-Year Low on Glut, Rising Costs via NREI