(Save thedate: RealShareNew York comes to the Grand Hyatt, NewYork, NY, October 9.)
NEW YORK CITY-According to the latest report from Keefe,Bruette & Woods, multifamily project starts have beenin a “volatile” state over recent months – but that doesn’t meanmurky waters are ahead for the sector. The U.S. Census data in therelease reveals that permitting for projects of five or more unitshave been up “substantially” in May, showing an 18% increase fromApril of this year.
However, multifamily sequential startsdecreased by 24% last month to 179,000 units. The firm notes thataverage, seasonally adjusted starts figures over the past sixmonths, compared to the same period last year shows an upward trendof eight percent. This does not mean that the most recent figuresare positive: the recent average is 18% lower than the 20-yearaverage.
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