Austin apartment market strongAustin apartment market stronghttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=53422014-01-07T09:28:00Z2014-01-07T06:47:00Z

AUSTIN - When 2013 arrived, the mood among Austin real estate professionals mostly was upbeat. The apartment market was on fire with thousands of units under construction or in the pipeline and occupancy rates topping 95 percent.

According to Robin Davis, the apartment expert who publishes The Austin Multi-Family Trend Report, about 15,400 units were under construction in third quarter 2013 with another 3,175 units started.

In the 12 months from September 2013 to September 2014, another 10,663 are scheduled to break ground.

Eldon Rude, the founder of 360° Real Estate Analytics consulting firm, thinks there will be plenty of demand as long as job growth remains strong.

“If Austin continues to produce jobs at the rate we have seen in recent years — the region added nearly 24,000 new jobs in the 12 months ending in October — most of the new projects would do fine,” he said. “But if the area’s job growth were to slow for some reason in the coming months, I suspect some of the new projects would struggle during their lease-up period.”

Austin Business Journal
Austin-Round Rock
http://www.bizjournals.com/austin/print-edition/2014/01/03/austin-office-hospitality-housing.htmlRead more at {Source}

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