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Multifamily New Construction Continues to Contract The year-end decline in multifamily construction starts persisted in Q1 2024. However, elevated completion times drove a slight expansion in the number of units under construction at the end of the first quarter. The sizeable under-construction pipeline will deliver a high level of completions in 2024 and 2025, with new supply bottoming in 2026.
The year-end decline in multifamily construction starts persisted in Q1 2024. However, elevated completion times drove a slight expansion in the number of units under construction at the end of the first quarter. The sizeable under-construction pipeline will deliver a high level of completions in 2024 and 2025, with new supply bottoming in 2026.
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