Soaring production of multifamily apartments pushed nationwide housing starts beyond the million-unit mark for the first time since 2008 in March, according to newly released figures from HUD and the U.S. Census Bureau.
Due to a double-digit dip on the typically volatile multifamily side, nationwide housing starts declined 8.5 percent to a seasonally adjusted annual rate of 890,000 units in January, according to newly released data from HUD and the U.S. Census Bureau.
Solid gains in both single-family and multifamily housing production resulted in nationwide housing starts rising 12.1 percent to a seasonally adjusted annual rate of 954,000 units in December, according to newly released data from the U.S. Commerce Department
Most of the major commercial real estate sectors show gradually improving fundamentals and are easily absorbing the relatively small amount of new space that is coming online, with a full recovery already in the multifamily market, according to the National Association of Realtors quarterly commercial real estate forecast.
September existing-home sales declined modestly, but inventory continued to tighten and the national median home price recorded its seventh back-to-back monthly increase from a year earlier, according to the National Association of Realtors.
Fusion 1560, designed by Humphreys & Partners Architects and CSJM Architects, was named Multifamily Community of the Year by the National Association of Home Builders (NAHB).