San Antonio Housing Permits Plunge 41%, Builders Panic
Stark Decline in San Antonio Multifamily Permits Permits for multifamily housing in San Antonio have significantly declined, indicating a dramatic shift in the market environment. The current permitting rate has dropped to 15 units per 10,000 people. This marks a steep 56% decrease from the pandemic average of 34.1 units. Although this is still above the pre-pandemic average of 10.8 units, the decline reflects significant changes in the housing market. The recent push by Kamala Harris to limit large investors' purchases in the market could further influence the shifts seen in the multifamily sector. Construction challenges have become more pronounced, complicating efforts for developers. Increased interest rates are impacting the feasibility of new construction projects, causing many developers to reconsider or halt their plans. This drop contributes to a broader national trend with multifamily permits decreasing by 27% from pandemic peaks. Such a sharp reduction tightens market ...