HOUSTON – Local multifamily occupancy continued its upward climb in second quarter 2018, hitting 89.9 percent, according to a CBRE report.
The average rental rate was also up to $1.16 per sf.
The net absorption (3,907 units) was nearly double the deliveries (1,987 units), spurring the price and occupancy increases.
As of the end of the quarter, 10,619 units are under construction.
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