Multifamily construction expected to stabalize in U.S. in 2023, NAHB official says during luncheon – Business Record

Construction began on 529,000 multifamily housing units in the U.S. in 2022, the highest total in 36 years, according to the U.S. Census Bureau and Department of Housing and Urban Development. The large number of units under construction has been sparked by low apartment vacancy rates and increasing interest rates for home mortgages, said Danushka Nanayakkara-Skillington, a…