The US rental apartment market continued to be strong during 2Q 2015, as multifamily production levels remain elevated.
According to NAHB analysis of the most recent data from the Census Bureau and Department of Housing and Urban Development Survey of Market Absorption of Apartments, completions of privately financed, unsubsidized, unfurnished rental apartments in buildings with five or more units totaled 210,200 residences for the four quarter period ending with the first quarter of 2015, a 40 per cent increase from the prior four quarters.
In contrast, condo and co-op completions remain at historically low levels, with 1,300 for-sale multifamily homes (in 5+ unit properties) completed during 1Q 2015.
