Multifamily housing developer "confidence" remained negative in the fourth quarter of 2022, though it improved slightly, according to the Multifamily Market Survey released this week by the National Association of Home Builders.
Lance Swank, president and co-owner of Sterling Group, Inc. in Mishawaka, Ind., and chairman of NAHB's Multifamily Council, said in prepared remarks that many developers continue to see strong demand for multifamily housing, but in some markets, supply is catching up to demand.
"In most markets, developers face challenges with regulatory costs and delays, and obtaining financing for new construction," Swank said.
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