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Multifamily Housing

All articles tagged with #multifamily housing

Residential Construction Soars, Boosting Housing Market Optimism

Originally Published 2 years ago — by WOLF STREET

Residential construction is gaining momentum as homebuilders and developers adjust to higher mortgage rates. Single-family construction starts in November rose by 6.6% from the previous month, reaching the highest level since April 2022. Homebuilders have been building smaller houses and offering incentives to offset the impact of higher rates. Meanwhile, multifamily construction starts also increased, with November seeing the highest number of starts since July. Despite challenges in certain sectors, the economy has managed to grow at unexpectedly high rates, and a recession, which was anticipated for 2023, has not materialized.

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Navigating Recession: Insights from Experts.

Originally Published 2 years ago — by The Real Deal

CBRE's chief global economist Richard Barkham predicts a mild recession in 2023, but long-term factors like an "economic revival" in 2024 will benefit commercial and residential real estate. However, real estate values will decrease during the recession, with office values potentially falling by more than a third. Multifamily housing is oversupplied, which could freeze rent increases in certain markets. Despite this, values should rebound "relatively quickly" compared to other slumps, with industrial taking two years, multifamily three years, and retail four years. Offices could take nine years to recover their values.

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