Checking in on the New Construction Pipeline
August 2020: Demand through July 2020 was half that of the same period last year, and 50k less units were absorbed than added in the first 7 months.
August 2020: Demand through July 2020 was half that of the same period last year, and 50k less units were absorbed than added in the first 7 months.
The topic on everyone’s mind in the multifamily industry and beyond is COVID-19 and the response to it. While some areas were affected earlier than others by shelter-in-place orders and the like, for the most part, a majority of Q1 2020 was carried out under relatively normal market conditions.
It is no secret that new construction has been the major story in multifamily for the last handful of years. In terms of raw units, the volume has been nearly unprecedented. However, when evaluating new supply as a percent of existing capacity volume has been comfortably within the range established since the turn of the…
This decade, more than 2 million new multifamily units have been added across the US. Does this mean that we’re approaching an overbuild? Read on to know more.