Marcus & Millichap: Austin multifamily 2018 forecastMarcus & Millichap: Austin multifamily 2018 forecasthttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=188132018-01-23T06:00:00Z2018-01-23T21:50:00Z

​​​Graphs on Austin Multifamily absorption, vacancy, and rent dataAUSTIN – Steady job creation is spurring a strong pace of net in-migration and household formation trends, according to Marcus & Millichap's Austin Multifamily 2018 Forecast.

A majority of these new residents are favoring apartments as rising home prices push the concept of ownership out of reach for many.

The homeownership rate fell from a high of 71 percent in 2006 to just over 50 percent during third quarter 2017.

Healthy demographic trends and a shift in residents’ attitude away from homeownership keep investors optimistic about the Austin apartment market.

​Values have risen nearly 50 percent above the previous peak achieved in 2007, but a slowdown in rent growth is contributing to a normalization of price appreciation.​

Marcus & Millichap Real Estate Investment Services
Austin-Round Rock

​Check out more Austin Multifamily Market Research.

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