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COVID-19 slowdown cuts apartment construction by 12%

from GlobeSt.com

COVID-19 slowdown cuts apartment construction by 12% GlobeSt.com The slow pace of construction, crew shortages and construction bans that came with COVID-19 has cut apartment construction by 12%, according to a new report. There are 283,000 new apartment units expected to hit the market this year, which is much less than a peak in 2018, said the report by RENTCafe Blog.Although many U.S. metro areas will see fewer new complexes, there are some cities that are bucking the trend. Texas is a main example: Three of its cities are on the top-five list for new apartment units this year. READ MORE

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