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Multifamily construction pushes housing starts

New-construction starts, comprising nonresidential, residential, and nonbuilding construction, fell 9% in July from the elevated pace reported in June, reports Dodge Data & Analytics. With a seasonally adjusted rate of $817.4 billion last month, the decline follows strong gains for total.

New law pushes WA cities toward denser housing. A construction crane looms over Seattle's Central District.. [This is] a short-term action to get cities to jump- start and approve greater density.. of permanently supportive housing in any location where other multifamily apartment buildings are permitted.

 · Multifamily starts dropped 7.9 percent to an annual pace of 394,000. The constraint in new-home construction is proving a big challenge for the overall housing market, says Lawrence Yun, the chief economist for the National Association of REALTORS®. “A major housing shortage exists in this country,” Yun said in a statement.

Current trends, such as the growth in multifamily housing demand, the push for energy-efficient design, and aging-in-place construction, as well as population.

While the impact of the storms on housing data is likely to be temporary, the decline in starts largely reflected slower construction in multifamily housing, a category that tends to be volatile. In.

with modest gains for both single family housing and multifamily housing. Through the first five months of 2019, total construction starts on an unadjusted basis were $295.0 billion, down 9% from the.

So, Where Will Housing Double Dip?  · Home Prices Double Dip to Levels Before Housing Bubble Burst. Of the 20 cities in the index, prices in 19 cities decreased over the last year. Washington, D.C., was the only city in which home prices increased on a monthly and annual basis – by a modest 1.1 percent and 4.3 percent respectively.

Multifamily construction permits were at 412,000 which was a 21.5% increase from June, when starts and permits dipped slightly. Overall, building permits were up 8.1% over June’s permit numbers, and single-family home building permits were up 3.9% over July, 2013. Meanwhile, housing affordability went down slightly in the 2nd quarter.

Housing starts is an economic indicator that reflects the number of privately owned new houses (technically housing units) on which construction has been started in a given period. These data are divided into three types: single-family houses, townhouses or small condos, and apartment buildings.

 · "A lot of the multifamily construction is going into rental buildings." Rental vacancy rates continue to hover near all-time lows as strong demand for temporary housing pushes.

Multifamily Decline Pushes Overall Housing Starts Down in September. 1.2 million is the number of housing units builders would start if they.

The 4% increase for commercial and multifamily construction starts at the U.S. level in 2018 reflected greater activity for multifamily housing, up 8% to $95.1 billion, and the commercial building.

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