NAHB Data Shows Multifamily New Construction to Be Strong in 2015

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The National Association of Home Builders Production Index for the third quarter of 2014 indicates continued strong production of both market rate and low rent multifamily rental properties. U.S. Census data put third quarter 2014 multifamily starts at just under a 350,000 unit annual rate. The NAHB occupancy index points to continued strong occupancy rates in both affordable and market rate rental properties. According to Rockhall EVP Scott Brown, “Continued low interest rates and strong apartment demand at all income levels points to 2015 being another good year for multifamily developers.”