Multifamily Missing Middle Production Lags

By Housing
The missing middle construction sector includes development of medium-density housing, including townhouses, duplexes and other small multifamily properties. While townhouse construction has trended higher in recent quarters, the multifamily segment of the missing middle (apartments in 2 to 4 unit properties) has shown weakness. For the third quarter of 2021, there were only 2,000 starts of such residences. Over the… Read More ›

Employee Retention Tax Credit Ends Early

By Industry News
A provision tucked into the bipartisan infrastructure bill signed into law this week by President Biden retroactively moved up the expiration of the Employee Retention Credit (ERC) to Oct. 1, 2021. The ERC had been scheduled to remain in effect through Dec. 31, 2021.

Sentiment on Multifamily Production and Occupancy Improves in the Third Quarter

By Housing
Sentiment on the production of new and occupancy in existing multifamily housing improved in the third quarter, according to the latest results from NAHB’s Multifamily Market Survey (MMS).  The MMS produces two main indices.  The Multifamily Production Index (MPI) increased five points from the previous quarter to 53, while the Multifamily Occupancy Index (MOI) also increased by five points, to… Read More ›

Year-over-Year Gains for Townhouse Construction

By Housing
According to NAHB analysis of the most recent Census data of Starts and Completions by Purpose and Design, townhouse construction in the third quarter of 2021 continued to show year-over-year construction increases. As housing demand has shifted to more suburban and exurban areas and housing affordability headwinds persist, medium-density construction lagged for much of 2020. However, demand for medium density neighborhoods… Read More ›