Multifamily fares well in weak economy. (Industry Data).(Brief Article)

Activity in the multifamily subsector of the residential construction market remained reasonably healthy during 2001. This year shouldn't be bad either, with total starts nearly the same and spending faring much better than for either the commercial or industrial subsectors of the nonresidential construction market.

Based on trends through the first 10 months of last year, approximately 333,000 new multifamily housing units were started during 2001, about 5,000, or 1.5 percent, fewer than in the prior year. But the average value of these apartment, condominium and co-op