From September to October this year, multifamily starts and multifamily permitting rose in the U.S. as a whole. But on an annual basis, the picture was not so rosy, according to a report by RealPage Analytics.
The seasonally adjusted annual rate (SAAR) for multifamily starts fell 31.8% from last October – "a much steeper decline than seen in the year-to-date unadjusted starts data," the report stated. However, the SAAR was up 4.9% from September to 382,000 units.
October permits for multifamily housing also fell 27.8% from the prior year to 469,000 units. But that figure was 2.2% higher than in September.
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