Multifamily market permits continue to decline


The month-to-month declines started before the spread of COVID-19

HousingWire (April 3, 2020) -- Prior to stay-at-home orders and businesses closing, the multifamily market was already seeing a decline in both permits and starts, a new report from RealPage said.

Permits fell to 415,000 units on a seasonally adjusted annual basis in February, marking the second-lowest annual rate in 17 months, down 20.2% from January and 5% from February 2019.


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