Rental units accounted for 96% of multifamily construction starts during the second quarter, further taking market share from condos, according to a new report.
The National Association of Home Builders analyzed quarterly data from the Census Bureau, which noted 76,000 rental multifamily starts and 3,000 condo starts.
"Condo construction has been weak since the end of the Great Recession," said the report, written by Robert Dietz.
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Thomas Phillips
Thomas Phillips is part of the social media team at ALM Media.
