Permits for new multifamily housing construction have declined from the pace set during the COVID-19 pandemic, according to a Redfin analysis of U.S. Census Bureau data.
Developers secured an average of 12.8 permits for buildings with at least five units per 10,000 people from July 2024 through June 2025.
That is down 23.1% from the 16.7-unit average during the pandemic-era building boom from 2020 to 2023, and 1.1% below the 13-unit average from 2014 to 2020…