Multifamily projects are being built at an elevated pace across the U.S., but leasing demand is robust and the nation’s housing shortage isn’t going away anytime soon, according to a report by Freddie Mac.
The government-sponsored enterprise’s midyear outlook report notes that multifamily completions have reached an annualized 365,000 units as of June—up from 345,000 units in each of the two prior years, according to U.S. Census Bureau data. At the same time, the industry is still struggling to build enough housing, as total households have increased by an average of 1.4 million each year during the past three years, while only 1.1 million units of housing per annum have been added.
Read more...Freddie Mac Foresees 4 Percent Rent Growth in 2019 via Multi-Housing News Online
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.