Multifamily Takes the Lead as Housing Starts Increase

April multifamily housing starts rose 27.2% from the previous month to 402,000 units, outpacing new construction for single-family homes, according to recently released Census Bureau data. Total housing starts rose 20.2% nationwide.

Single-family homes starts increased 16.7% last month, and experts expect to see further upward momentum in the coming warmer months.

Multifamily housing permits increased 20.5% from March, again beating out the single-family sector, which grew only 3.7%.

Combined single- and multifamily starts were up in three out of the four U.S. regions in April. Housing starts increased in the Northeast, Midwest, and West. Production decline in the South has been attributed in part to a drop in oil rig counts.