Best Quarter for Multifamily Missing Middle Construction in 17 Years

The missing middle construction sector includes the development of medium-density housing, such as townhouses, duplexes and other small multifamily properties.

As reported by the NAHB, the multifamily segment of the missing middle (apartments in 2- to 4-unit properties) has generally disappointed since the Great Recession. However, there was a noticeable uptick in this type of housing construction in the most recent data. For the third quarter of 2024, there were 6,000 2- to 4-unit housing unit construction starts. This is double the pace of construction from a year prior.
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