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Austin multifamily construction up, vacancy downAustin multifamily construction up, vacancy downhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=214522018-11-15T06:00:00Z2018-11-20T22:00:00Z

​​​​​​infographic.AUSTIN – Marcus & Millichap has released a Multifamily Research Market Report for fourth quarter 2018, predicting year-end trends and reviewing third quarter statistics. Highlights include:

  • Completions ticked up over the past 12 months as developers increased stock by 9,800 units.
  • The average rent advanced at its strongest pace since 2016, reaching $1,252 per month in the third quarter.
  • More than 12,800 market-rate apartments are underway with delivery dates scheduled through 2020. Nearly 5,600 of these units will be delivered in the North Central and East Austin submarkets.
  • ​Vacancy will decline during 2018 for the first time in more than five years to 5.5 percent.​
Marcus & Millichap
Austin-Round Rock
Multifamily
https://assets.recenter.tamu.edu/Documents/NewsTalk/Austin_Multifamily_Marcus%26Millichap_4Q2018.pdfSource: {Source}

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