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Multifamily Muddles Through the Uncertainty Multifamily construction starts have declined significantly from the 2022 cycle peak, but a still large under-construction pipeline will deliver some 536,000 units in 2025 and 422,000 units in 2026. However, current tariff policy is adding a greater-than-normal level of uncertainty to later years.
Multifamily construction starts have declined significantly from the 2022 cycle peak, but a still large under-construction pipeline will deliver some 536,000 units in 2025 and 422,000 units in 2026. However, current tariff policy is adding a greater-than-normal level of uncertainty to later years.
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