Apartment building boom looks set to ease

Screen Shot 2016-02-29 at 10.30.08 AMEconomists say tide may be turning toward single-family homes

By Chris Kirkham | The Wall Street Journal

Apartment construction has been a bright spot in an otherwise lackluster recovery of the nation’s housing market over the last six years.

Now economists say the tide might be turning away from apartments and toward single-family homes.

Each year since 2010, construction of apartments and condominiums has grown at a faster rate than single-family homes. Last year U.S. builders began construction on 396,600 units in buildings with two units or more, the most in a year since 1988.

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