Despite the delays and problems with financing, construction is booming and expected to bring some of the best years on record, according to Yardi Matrix’s annual apartment construction report on its RentCafe site. Building during and after the pandemic has added 1.2 million apartments over the last three years. This year’s numbers suggest a new peak year for construction as developers open 460,860 rentals by year-end. Such growth hasn’t been seen since the 1970s. 

New York has taken the lead this year, followed by the Texas cities of Dallas and Austin. New York is predicted to have 33,00 new rentals by the end of this year.

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