Sep 14, 2020 | Dallas Morning News
Apartment construction activity is bouncing back after declines early in the COVID-19 pandemic.
After big drops in building in April, May and June, July saw a surge in nationwide permits for new apartments and multifamily projects, according to a new report from RealPage.
Total U.S. apartment starts and permits are close pre-pandemic levels – up as much as 60% from April totals, analysts with the Richardson-based firm found.
“Despite increasing concerns of flaring infection rates and renewed restrictions on businesses, developers continue to show optimism for an economic recovery with 220,000 more multifamily units started in July than the year before,” RealPage’s Chuck Ehmann said in the report.
During the 12 months ending in July, Dallas-Fort Worth builders have filed permits for more than 16,000 new apartments – 1.2% more than the previous 12-month period.