September Housing Starts: Near Record Number of Multi-Family Housing Units Under Construction

Today, in the CalculatedRisk Real Estate Newsletter: September Housing Starts: Near Record Number of Multi-Family Housing Units Under Construction

Excerpt:

The third graph shows the month-to-month comparison for total starts between 2022 (blue) and 2023 (red).

Total starts were down 7.2% in September compared to September 2022.  And starts year-to-date are down 12.1% compared to last year.

Starts have been down year-over-year for 15 of the last 17 months (May and July 2023 were the exceptions), and total starts will be down this year - although the year-over-year comparisons will be somewhat easier in Q4.

There is much more in the post.  You can subscribe at https://calculatedrisk.substack.com/