Construction of 405,000 apartments is expected in 2015
Post date
December 12, 2014
Body
Provided by: National Real Estate Investor
Developers seem to have quickly built this potential demand booth into their business plans. The prediction from Dodge that developers will start work on 405,000 apartments next year would be a big increase after an already busy year in 2014. Developers started construction on new multifamily projects at a seasonally adjusted annual rate of 360,300 in the third quarter of 2014, up 3.9 percent from the second quarter, according to data from the National Multifamily Housing Council (NMHC). That’s up 33.6 percent compared to just a year ago.