May 16, 2017
Surprise, surprise: Top metro in U.S. multifamily permits
DALLAS-FORT WORTH – During March 2017, total U.S. multifamily authorization activity rose 33.8 percent from February 2017 and 17.6 percent from a year prior, according to preliminary data from the U.S. Census...
DALLAS-FORT WORTH – During March 2017, total U.S. multifamily authorization activity rose 33.8 percent from February 2017 and 17.6 percent from a year prior, according to preliminary data from the U.S. Census Bureau.
A total of 32,100 multifamily units were approved for construction by local governments across the country in March, bringing the year-to-date figure to 87,800 units. That year-to-date count reflects a 4.8 percent year-over-year increase.
For the second consecutive month, Dallas-Fort Worth claimed the top spot for permitted units, with New York narrowly trailing. Both markets registered increases of more than 80 percent for year-over-year authorizations.
Experiencing a five-slot drop, Austin rounded out the leaderboard. The metro’s sluggish authorization volume suggests builders are sensitive to Austin’s slowed job growth.
A separate Census report shows a total 86,700 multifamily units started construction through March 2017. That figure represents a 14.2 percent increase from the first three months of 2016.
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