By Michael Gerrity | World Property Journal
According to new data from the U.S. Department of Housing and Urban Development and the Commerce Department, a surge in U.S. multifamily production pushed overall housing starts up 9.7 percent in January 2018 to a seasonally adjusted annual rate of 1.33 million units after an upwardly revised December 2017 reading.
Multifamily starts rose 23.7 percent to a seasonally adjusted annual rate of 449,000 units. Meanwhile, single-family production posted a healthy 3.7 percent gain to 877,000 units.
