Texas big four in top ten multifamily deliveries 2Q 2013Texas big four in top ten multifamily deliveries 2Q 2013https://www.recenter.tamu.edu/news/newstalk-texas/?Item=69202013-07-02T14:11:00Z2013-07-01T07:15:00Z

TEXAS - Axiometrics Inc. released its apartment data for second quarter 2013, with three of the major Texas MSAs well represented when it came to units delivered.

  •  1. The Dallas MSA claimed first place, delivering 3,203 units during the quarter.
  •  2. The Houston MSA delivered 2,593 units.
  •  5. The Austin-Round Rock area introduced 1,692 units to the market.
  • 10. San Antonio delivered 1,138 units.

"Texas markets continue to lead the way when it comes to job and population growth, which will drive demand for the new supply," says Jay Denton, vice president of Axiometrics. The question, however, arises as to whether too much is being delivered, even in the face of positive job and population growth.

In the Texas markets, Denton points out it'll be interesting to see if the "big four" metros can absorb the larger increase in unit deliveries without either raising concessions or reducing effective rent growth — or seeing a decline in occupancy.

"Houston is absorbing the best now with rents increasing at a 6 percent annual rate and occupancy at about 93.3 percent,” Denton said.

Read more at GlobeSt.com.

http://www.globest.com/news/12_637/dallas/multifamily/texas-cities-on-top-with-mf-deliveries-335092.htmlRead more at {Source}

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