Multifamily Construction Update (July 2020)
COVID-19 continues to cause delays across the multifamily construction industry. Still, as the economy opens up, signs of life are appearing across new proposals, permits,
COVID-19 continues to cause delays across the multifamily construction industry. Still, as the economy opens up, signs of life are appearing across new proposals, permits,
Low-density markets continue to garner developer attention, especially given the potential fall-out from COVID-19. While new starts continue the downward trend and completions remain soft,
NMHC Construction Survey (Round 2) shows continued pressure throughout the multifamily construction sector, while forward-looking metrics (permits, starts, completions) also continue to decline. One shining
Construction-related issues begin to take hold as COVID-19 tears through the nation. Construction delays from the stay at home orders (affecting permits) and global supply-chain
The Nation’s highest supply markets continue to offer the greatest concessions, year after year. However, the overall market is healthy. For the year ended January
Multifamily completions are scheduled to hit 371,000 in 2020, a 50% increase from 2019. Still, new 2020 construction starts are expected to remain steady, causing
Lower 2020 expected deliveries may finally catch up with construction labor shortages, easing the cost burden on developers. There is also a high-impact $2B “pop-up
CBRE’s third-quarter 2019 report continued to demonstrate sustained high-levels of multifamily demand throughout the United States, with net absorption of 307,600 outpacing completions of 256,000
2019 deliveries continue above historical averages, however, some major markets with nation-leading fundamentals are experiencing year-over-year declines. Still, 2020 is expected to see significant inventory
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