Demand for New Multifamily Developments Expected to Stay Strong Through 2030

From 2012 through 2016, developers completed an average of 225,000 new apartments per year, according to National Real Estate Investor (citing data from Multifamily Housing Council (NMHC) and the National Apartment Association (NAA)). To meet growing demand and compensate for the loss of older properties, 4.6 million new multifamily units must deliver to market between now and the end of 2030 (an average of an average 325,000 units/year). The western U.S., Texas, Florida and North Carolina are expected to have higher than average demand for additional housing units.

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