Surge in Apartment Starts Offsets April Decline in Single-Family
A surge in new U.S. multifamily construction and permitting helped to offset a sharp decline in single-family starts in April, according to Census Bureau data. The overall monthly decline of 2.8% was shallower than projected, although single-family starts were down 9.0% from March and 2.4% year-over-year, even as starts overall rose 4.6% from the April 2025 rate of 1.400 million.
Conversely, the multifamily sector, including apartment buildings and condominiums, increased 10.3% to an annualized pace of 535,000 units from March. Multifamily starts are up 19.7% compared to April 2025. Permitting for multifamily projects was up 9.2% Y-O-Y, compared to a 5.5% annual decline for single-family.
“The decline in housing starts highlights growing pressure from tighter financial conditions and rising construction costs,” said Danushka Nanayakkara-Skillington, assistant VP for forecasting and analysis at the National Association of Home Builders. “Recent increases in the 10-year Treasury yield have driven mortgage rates higher, further reducing affordability and weakening demand for new homes. As a result, home building is likely to remain under pressure in the coming months, especially as higher diesel and gas prices continue to raise construction costs.”
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout