WRE News September 13, 2023
Buyer
Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), has released the new report “Pullback in Multifamily Construction Starts.”
According to the company, the new report offers the latest apartment construction research and analysis, including key findings such as:
“As access to development capital across the country diminishes and rent growth slows, multifamily starts are cooling,” stated Greg Willett, first vice president and national director of research services at IPA. “Among the 15 markets that account for over half of the nation’s ongoing apartment construction, building starts in the second quarter of 2023 totaled just under half the average volume recorded during the previous two years.”
IPA’s “Pullback in Multifamily Construction Starts” report can be accessed here.
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