Multifamily For-Rent Starts Experience Record Quarter
According to NAHB analysis of quarterly Census data, multifamily for-rent housing starts surged during the second quarter of 2022 to 142,000 units, the largest quarter for rental multifamily construction since the second quarter of 1986.
The market share of rental units of multifamily construction starts bounced back to 96%. In contrast, the historical low share of 47% was set during the third quarter of 2005, during the condo building boom. An average share of 80% was registered during the 1980-2002 period.
Chief Economist Robert Dietz provides more in this Eye on Housing post.
Latest from NAHBNow
Economics
Dec 11, 2025
Fed Eases Monetary PolicyThe central bank’s Federal Open Market Committee (FOMC) cut rates a third and final time in 2025, reducing the target range for the federal funds rate by 25 basis points to a 3.5% to 3.75% range. This reduction will help reduce financing costs of builder and developer loans.
Sponsored Content
Dec 10, 2025
How Builders Can Find Infill Land to Boost Margins in 2026Infill opportunities exist, but the challenge is finding them before the competition moves in or prices go up. Having access to the right technology can streamline the grind and help builders protect their margins in a tight market.
Latest Economic News
Economics
Dec 09, 2025
Mortgage Activity Continued to Climb in NovemberMortgage activity continued to climb in November, posting the largest year-over-year increase in more than five years. Every major category increased on a year-over-year basis as mortgage rates continue to trend lower, led by strong increases in refinancing and adjustable-rate mortgage activity.
Economics
Dec 08, 2025
Community Associations: A Growing Trend in 2024In 2024, 65.7% of all new single-family homes started were built within a community or homeowner’s association. This share increased from the 64.8% recorded in 2023, according to data tabulated from the Census Bureau’s Survey of Construction (SOC).
Economics
Dec 05, 2025
Mortgage Rates Continue to Trend Lower in NovemberThe average mortgage rate in November continued to trend lower to its lowest level in over a year. According to Freddie Mac, the 30-year fixed-rate mortgage averaged 6.24% in November, 2 basis points (bps) lower than in October. Meanwhile, the 15-year rate increased 3 bps to 5.51%.