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Multifamily Gets a Boost From Weakened Single-family Market.
Staff
Multifamily construction is holding up better during the housing slowdown than single-family construction. Prospective homebuyers with marginal finances are being forced to stay in apartments as mortgage rates rise and credit standards tighten; manufactured housing suppliers have not yet been able to capture any of these disappointed would-be homebuyers.
Continued job growth in a still strong economy is creating additional housing demand, which will be met largely by apartments. Some condo projects in the planning stages--even some already under construction--were switched to apartments.
Multifamily construction starts are expected to decline …
- Multifamily Report: Apartment construction keeps the multifamily market steady.
- Magazine article from: Building Design & Construction July 1, 2007 700+ words
Jim Haughey, Director, Research and Analytics, Reed Construction Data Despite the collapse of the condo market, multifamily construction is down only about 5% in the last six months, thanks to a burst of apartment construction. Condos...
- Nonresidential Construction Growth Continues In "07.
- Magazine article from: Building Design & Construction December 1, 2006 700+ words
...Director, Research and Analytics, Reed Construction Data Construction will experience a supportive...projects. Starts are forecast by Reed Construction Data to increase 7% in 2007. The condo market plunged more than the single-family...
- MULTIFAMILY REPORT: How Building Teams Are Beating the Cost Crunch.
- Magazine article from: Building Design & Construction January 1, 2007 700+ words
...billion in 2006, according to Reed Construction Data analyst Jim Haughey, PhD. In Chicago...been a lot of press about the whole condo market being dead, but not here in Chicago...over 20 years. "In general, the DC condo market is slowing down, and everybody is...
- 'Multifamily to stay fairly strong': RCD analyst.
- Magazine article from: Building Design & Construction January 1, 2007 700+ words
...Research & Analytics, Reed Construction Data Multifamily construction will...condos being reported. The condo market will remain weak for several...waiting to break ground. Reed Construction Data projects that the value of...
- Twin Cities homebuilders urged to consider condos - with care.
- Newspaper article from: Finance and Commerce Daily Newspaper, MN February 24, 2005 700+ words
...Hardle, who tracks building permits and other residential construction data in the metro area. "There are all different ways you can...construction boom. "The other thing that has happened in the condo market is, there have been so many rental vacancies that it has...
- O.C. residential building permits at 14-year low.
- Newspaper article from: Orange County Register (Santa Ana, CA) July 25, 2007 700+ words
...level this year in at least two decades, Orange County construction data released Tuesday shows. It's the first time since 2000...outpacing supply by 2008, but it will take much longer for the condo market to stabilize. To see more of The Orange County Register...
- Building predicted to take hit in '07: But economists say other construction to...
- News wire article from: Bradenton Herald (Bradenton, FL) December 8, 2006 700+ words
...percent gain, said Jim Haughey, chief economist for Reed Construction Data. The slump in residential construction directly affects...weaknesses will be confined to the single-family home and condo market," Haughey said. Melissa Followell, Herald reporter...
Source: HighBeam Research, Multifamily Gets a Boost From Weakened Single-family Market.
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