COVID-19 Slows Apartment Construction by 12%

According to RENTcafe Blog, construction bans and crew shortages that came with COVID-19 have cut apartment construction by 12% this year.

283,000 new apartment units expected to hit the market this year, down from 321,000 in 2019. which is much less than a peak in 2018, said the report.

While most U.S. metro areas will see construction slowing, there are some cities that are doing much better; three of them are in Texas: Dallas-Fort Worth, Houston and Austin.

The biggest declines were in Miami with a drop of 53% and Denver, down 51%.

Read on at:

Mr. Willig engages and coordinates a professional team of real estate brokers, general contractors, leasing agents, and property managers in order to rehabilitate, lease and maintain the properties he acquires for SpringView Investments. He has over 20 years of finance and accounting experience

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