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Multifamily Construction Starts Hit Lowest Level Since 2011

Slowing Pipeline Sets Stage for Supply Pullback in New Apartments Over the Next Two Years
The number of apartments starting construction this year is plunging, a move expected to result in fewer units being available two and three years from now. (Getty Images)
The number of apartments starting construction this year is plunging, a move expected to result in fewer units being available two and three years from now. (Getty Images)
CoStar Analytics
August 13, 2024 | 9:37 P.M.

While the multifamily market digests the record-high completions of 2023 and 2024, a dramatic slowdown in the construction of new units has major implications for apartments projected to become available in the next two years.

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