Houston: CBRE multifamily 2Q 2015 MarketView

​​​​​​​​​​​​​HOUSTON – Houston rental rates rose a very strong 6.8 percent from
this time last year and are up 2.5 percent since first quarter 2015, according to
CBRE’s Multifamily Market Marketview.

Houston’s overall occupancy
continues to hold strong with occupancy at 91.4 percent in the second
quarter, an increase of 30 basis points (bps) quarter-over-quarter.

Class
B occupancy rates continue to dominate at 94.7 percent, whereas Class A
occupancy rates are steady at 84.5 percent, including properties in
lease-up.

The number of units under construction remains a robust 23,776 in 2Q 2015, slightly down from 25,766 in 1Q 2015.

Units delivered this quarter totaled 5,628, a 34.6 percent bump from 1Q 2015 deliveries.

Take a look at the CBRE 2Q 2015 Multifamily MarketView.