High Supply Markets Pulling Back on Permitting
https://www.realpage.com/analytics/february-2025-metro-permit-update/
Some of the nation’s most active construction markets are seeing some of the deepest declines in multifamily permits.
Some of the nation’s most active construction markets are seeing some of the deepest declines in multifamily permits.
The pace of multifamily housing permits and starts ticked up at the end of 2023, as developers tried to get in a few more projects by the end of the year.
More apartments are scheduled to complete in 2022 than in any single year since at least the 1980s. Over 426,000 apartments are under construction and slated to complete in 2022, which is the highest volume on record for the U.S. apartment market in at least 40 years. For comparison, 2021 was also considered a record read more
In the latest episode of Economy Express, consumer confidence wavers as tariff concerns loom.
While new supply volumes have cooled since peaking in 2024, another record volume delivered in 3rd quarter 2025.
From the 2020 to 2023 time period, the resident base of some of the big pricey gateway markets has dwindled, led by the deepest decline in San Francisco.
Northeast apartment markets logged the tightest apartment occupancy rates in the U.S. in 2023.
While U.S. investment activity leveled off in 2nd quarter, over 1,200 apartment properties changed hands at a value of $28.2 billion.
For the first time since the pandemic recovery began, none of the top 10 markets exceeded 100,000 jobs gained for the year
While the U.S. overall has hit a supply peak, a handful of individual markets are still waiting for their own pinnacle.