The U.S. housing market is flashing new signs of slowdown—multifamily construction is plummeting, and the spring homebuying season is off to one of its weakest starts in years. In today’s episode, we break down Redfin’s latest analysis showing a 27% drop in new multifamily permits compared to the pandemic boom, with many metros like Stockton, CA and Colorado Springs seeing construction nearly grind to a halt. At the same time, sky-high monthly payments and economic jitters are keeping buyers on the sidelines, even as inventory ticks up. We’ll explore which metros are still building, where demand is drying up, and what it all means for the future of housing supply and pricing power.
Read the multifamily report here: https://www.redfin.com/news/multifamily-construction-permits-2025/
Read the spring market report here: https://www.redfin.com/news/housing-market-update-record-high-housing-costs-economic-uncertainty/
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