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FastFact: Multi-Family Housing Drop Hurts Home Construction Numbers
A double-digit decline in multi-family housing construction dragged down new home construction numbers in 2016, according to data from the National Association of Realtors.
The numbers showed that construction of multi-family apartments and condos fell by 13% in 2016, while single-family home construction was up 7.5%.
However, single-family units are still well below the peak levels recorded in 2007.
For a detailed look at the numbers, click here.