The NAHB Multifamily Market Survey indicates a decline in confidence for new Multifamily Housing
The first quarter of 2022 has seen a downward trend in market confidence for new multifamily housing. As reported by the NAHB, the National Association of Home Builders, their Multifamily Market Survey has indicated a decrease in demand for multifamily housing, for both builders and developers. These builders and developers are being more cautious when it comes to multifamily construction. Sean Kelly, chairman of NAHB's Multifamily Council, said, "Strong demand is still keeping multifamily developers fairly optimistic in many parts of the country, but high construction costs and their impact on affordability are making some developers increasingly cautious."