Dodge 2015 apartment forecast: 405K new units

Dodge report predicts construction of 405,000 apartments in 2015.

Developers will likely begin building 405,000 apartment units next year, according to the 2015 Dodge Construction Outlook. Developers are betting on strong demand as the employment landscape improves and new households form.

"Financing for construction projects is becoming more available, reflecting some easing of bank lending standards, a greater focus on real estate development by the investment community and more construction bond measures getting passed," said Robert Murray, chief economist and vice president of Dodge Data & Analytics.

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Source: National Real Estate Investor online