The Rent Cafe reports Apartment Construction Is Expected to Slow Down in 2018 After a 6-Year Upward Streak
Following an almost decade-long period of vigorous expansion, the growth of the U.S. renter population has reached a plateau in 2016. Construction had continued to break records – until this year, when Yardi Matrix market data suggests that the total number of new completions is going to remain far below the 300K mark.
Compared to 2017 when the number of new deliveries reached an all-time high mark in the last 20 years, 2018 will see about 34,900 less deliveries ready to hit the market. The amount of new construction has followed a fast-ascending trend in the past 6 years, but the trend is estimated to change course this year.