Despite Challenges - Apartment Construction Continues to Boom

[Jorge Abreu]

Despite ongoing material and labor shortages, apartment construction continued on pace this year, with more than 330,000 new rental units expected to be delivered coast to coast by year’s end. 💥

“These figures reflect the striking difference between the aftermath of the pandemic crisis and that of the housing crisis of 2008: In 2021, there were nearly three times more apartments under construction than there were in 2011,” according to a new report from RentCafe.

The amount of new deliveries, as estimated by Yardi Matrix, represents just a 2.5% decrease in new units over 2020 figures. That’s a decent pace under the circumstances, according to Yardi’s Doug Ressler.

👉This is some amazing news considering the facts, what are your thoughts about this?