After a record-breaking surge in multifamily housing completions in 2024, the market is bracing for a sharp pullback this year, with new unit completions expected to decline by nearly 50%.
Developers are hitting the brakes on new apartment developments, especially in Sun Belt markets
Oversupply, record vacancy, cautious investors contribute to steep drop in multifamily construction
By Jay Lybik
CoStar Analytics
February 19, 2025 | 9:04 P.M.
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