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ARA Newmark: Houston multifamily report 2015ARA Newmark: Houston multifamily report 2015https://www.recenter.tamu.edu/news/newstalk-texas/?Item=4252015-07-09T08:39:00Z2015-07-09T14:00:00Z

HOUSTON - ARA Newmark's Houston Multifamily Overview report is available.

Overall, Houston grew 5.7 percent in the past 12 months as of April 30, 2015, in rental rates.

Disregarding new construction, the overall Houston market is currently 91.2 percent concerning occupancy.

1Q 2015 Houston Multifamily Fundamentals
  Overall
Market
2013
Construction
2014-2015
Construction
Class A
(w/o '13&'14)
Class B
(w/o '13&'14)
Class C
Number of units 594,243 12,186 24,700 112,063 197,095 179,518
Occupancy 91.2% 91.1% 39.9% 93.6% 94.5% 94.0%
Price per SF $1.07 $1.55 $1.60 $1.47 $1.05 $0.85
Price per Month $939 $1,475 $1,533 $1,402 $914 $713
Rent growth (T12)* 5.7% 1.1% - 2.4% 7.0% 6.1%
Rent growth (T3)** 6.6% 3.6% - 4.5% 6.7% 7.1%
Absorption (T12)* 15,871 3,309 8,413  -1,403 404 3,204
Absorption (T3)** 5,598 309 2,370 211 312 1,514

*T12: trailing 12 months
**T3: trailing three months

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