Has the shift to single-family starts stalled?

Following a dip towards the end of last year, the share of multifamily starts has recovered and builders have become more optimistic towards the sector. Our expectation for a shift toward single-family homes during 2017 may, therefore, be delayed. But, with demand from first-time buyers set to rise, we still expect single-family starts to make up the majority of new home growth over the next couple of years.