North American Multifamily Housing Shifts to Larger, Lower‑Rise Projects

U.S. multifamily construction is normalizing after a historic surge in 2024, with total completions falling from 591,000 units to 468,000 units in 2025. The share of larger projects (50 + units) rose to 59.4% of all completions, while lower‑rise buildings continue to dominate new supply. Analysts cite economies of scale and financing challenges for smaller developers as drivers of the trend.

In Regina, Canada, rapid population growth of 27,000 since 2021 is prompting a rise in housing supply. The city reported 1,674 building permits in 2025, a five‑year high, with 58% for multi‑unit housing. The surge reflects demand for alternatives such as secondary suites, multiplexes and apartments, helping keep the city among the most affordable major Canadian markets.