September 23, 2023
Apartment building construction on track to hit record high
New apartment construction is on track to top a 50-year high, with nearly 461,000 units expected to be built across the U.S. this year, according to a new report...

Apartment building construction on track to hit record high

September 7, 2023 | Sami Sparber | Axios

New apartment construction is on track to top a 50-year high, with nearly 461,000 units expected to be built across the U.S. this year, according to a new report.

Why it matters: A housing shortage in the U.S. has contributed to the rising cost of both renting and buying.

What’s happening: A surge in new apartment supply — 1.2 million units were completed during the pandemic — helped slow rent growth nationwide, but some parts of the country saw more housing being built than others.

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