Magazine article Mortgage Banking

Multifamily Sector a Mixed Bag in First Quarter

Magazine article Mortgage Banking

Multifamily Sector a Mixed Bag in First Quarter

Article excerpt

The multifamily housing sector was a mixed bag in the first quarter of 2007 as the issuance of building permits increased while starts and completions declined, according to the Department of Housing and Urban Development (HUD).

In the first quarter, builders took out building permits at a seasonally adjusted annual rate (SAAR) of 365,000 new multifamily units, up 12.1 percent from the fourth quarter of 2006 but down 16.6 percent from the first quarter of 2006, noted the HUD report, U.S. Housing Market Conditions.

Builders started construction on 267,000 SAAR new multifamily units in the first quarter of 2007, down 7.5 percent from the fourth quarter of 2006 and down 22.3 percent from the first quarter of 2006. Completions of multifamily housing units totaled 287,000 SAAR new multifamily units in the first quarter, down 9.6 percent from the fourth quarter of 2006 and down 1. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.