Housing market rebounds in March

Multifamily building, primarily apartments, will lead the recovery. Multifamily permits topped starts by a cumulative 7% so far in 2011, including a very strong 189,000 permits in March far ahead of 127,000 starts. This permit backlog will push apartment starts quickly higher. Apartments have been the most attractive market to real estate investors since late last year. Vacancy rates are falling and rents rising in most key markets as household decoupling proceeds in pace with expanded

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