Number of new apartments that were completed in the U.S. in 2024, the most in a year since 1974. But apartment starts were at their lowest ebb since 2013: down 27 percent in 2024 compared to 2023 and down 37 percent from a recent peak of 531,000 in 2022. Danushka Nanayakkara-Skillington of the National Association of Home Builders expects apartment building starts to slow until later this year. “We are going to be short of workers for a long time. That’s the way it is. And of course tariffs are going to have an impact,” Nanayakkara-Skillington said.
