Multifamily permit volumes declined by double digits in August, while single-family permitting is on the rise.
Building permits for multifamily construction fell to 381,000 units on a seasonally adjusted annual rate in August, down 17.4% from July and 28.5% below the rate from last August. Current rates are well below recent averages.
Read more...Multifamily Permits Remain Muted as Single-Family Ramps Up via RealPage
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