Houston multifamily deliveries still falling

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HOUSTON – Local multifamily deliveries remain on a downhill slide for a second consecutive year as 12,600 units are expected to come online in 2018.  This is below the 19,400 units delivered last year.

According to Marcus & Millichap, the metro’s expected positive absorption of 7,700 units this year will be outweighed by supply additions. Vacancy will rise to 6.4 percent following last year’s 200-basis-point fall.