Multifamily Construction Maintained Positive Growth in Q1

June 9, 2023, Washington, D.C. -- The multifamily market has remained strong throughout much of the nation, according to the latest findings from the National Association of Home Builders (NAHB) Home Building Geography Index (HBGI).

All HBGI markets had positive multifamily construction growth rates in the first quarter of 2023. For the secventh consecutive quarter, Large Metro–Outlying Counties had the highest growth rate at 24.5%. Large Metro–Core Counties had the lowest multifamily growth rate at 3.2%, up from 1.5% from the fourth quarter of 2022.