Multifamily builders address home builders in today's market

[William Costello]

Housing demand has outpaced supply for years prior to the pandemic, and demand has only increased since then. Compounding this problem is a materials and labor shortage, such that now, building more housing is more expensive and takes longer to complete. In addition, to a very competitive housing market. Multifamily construction has continued, and single-family home builders have not been as active. Now, this could just be a blip and a brief shift in housing construction in the second half of 2021, but, given how tight supply already is, any shift in housing construction deserves attention. Especially in hot Sunbelt cities such as Charlotte, Atlanta, Austin and rest of the sunbelt demand is through the roof with alot of attention on it with new builds. In some tertiary markets as well trends are shifting more into the multifamily space instead of the single-family sector.