‘Bright economic outlook’ luring multifamily investors to Metroplex

​​​DALLAS – Employment gains of nearly 3 percent or more since 2012 have boosted local demand for both single-family and multifamily dwellings, says Marcus & Millichap in its latest multifamily market report.

Single-family housing supply remains tight, pushing up home prices and keeping many would-be owners in apartments, the firm says.

"Strong rental demand and absorption across the Metroplex have encouraged apartment development," according to the report. "The pace of apartment completions will reach a peak this year as builders are set to bring more units online in Dallas-Fort Worth than nearly every other major metro in the country. It is surpassed only by New York City."

Absorption remains healthy, keeping vacancy historically low. With vacancy staying well below the previous nine-year average, effective rent growth remains strong throughout much of the market.​​​​

​