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MF Starts Post Double-Digit Gains

DALLAS- Some 221,000 apartment units were completed nationwide over the 12 months ending in November, while 346,000 units were under construction, says locally based Axiometrics.

By Paul Bubny | Updated on January 14, 2014

DALLAS-There was “a mix of good and fair news” in the most recent residential permitting report from the US Census Bureau, Axiometrics said Tuesday. The fair news: building permits for November 2013 were down slightly. The good news: permitting remains at its highest level since 2008, and the development picture looks especially bright when it comes to housing starts.

Permits for November measured on a seasonally adjusted annual rate stood at 1,007,000 privately owned housing units, off 3.1% from October’s 1,039,000, the Dallas-based research firm reported. However, the November figure was up 7.9% year-over-year from 933,000 in November 2012. Annual multifamily permitting has averaged 321,000 over the past year.

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