- Q2 2026 had 117,000 multifamily unit starts, up 5% from Q2 2025.
- 8,000 of those units were condos built to purchase.
- Q1 2026 had 107,000 multifamily unit starts, up 21% from Q1 2025.
- 4,000 of those units were condos built to purchase.
The red lines on the graph below show multifamily starts and the blue line shows the percentage of units built for rental (vs. condos for sale). You can see the brief spike downward during the condo boom from 2003 to 2008. It peaked in Q3 2025 when 53% of starts were built as condos for sale.
The new supply growth in 2026 has been concentrated in smaller metropolitan areas and lower-density markets.
Source: Globe St.
Multifamily Market News 