Multi-family starts approaching peak levels
New data from the Census Bureau show that the West region saw 7,100 multi-family starts, the most since 2005, when there were 10,000 starts.
The West region includes states on the West Coast and within the Rocky Mountain region.
While the numbers are encouraging, the data show that the number of starts is still 29 percent off-peak.
The number of multi-family starts also outpaced the monthly average, which is 5,600 starts. These two factors reinforce recent market trends that demonstrate a return in the strength of multi-family construction.
Total housing starts, including both multi- and single-family, were up 24.6 percent year-over-year in September, with a total of 18,200.
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