Multifamily Construction Outlook: Q4 2025
Key Trends & Forecasts Construction Starts & Supply Pipeline Fannie Mae reports that multifamily housing starts peaked in Q2 2025 at an annualized rate of roughly 390,000 units, down to 366,000 units in Q1 2026. The forecast for Q4 2025 shows a gradual decline following this peak. According to NAHB, starts declined 25% in…

