With early job production figures showing the economies in Texas kicking into even higher gear in 2013, it’s no shock to see Houston and Dallas/Fort Worth at the top of the charts for apartment leasing during the year-ending 1st quarter.
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Employment growth remains very strong in North Texas. That’s triggered big increases in both home sales and in apartment construction. As a result, apartment revenue growth levels have eased.
Dallas/Fort Worth posted strong demand in 2nd quarter 2012. As a result, the bottom half of the market is filling up, while the top half – already full – is seeing big rent growth.
The year-over-year revenue numbers for the Dallas/Fort Worth apartment market still look good, and strong job growth should continue to boost demand for apartments.
Year-over-year rent growth reached a two-decade high in the Dallas/Fort Worth apartment market. And demand in 4th quarter – typically a slow leasing period – was unusually strong.
Greg Willett digs deeper into the Dallas/Fort Worth apartment market and examines stats specific to the health of the best apartment product found in North Texas.
The North Texas apartment sector posted solid revenue growth in 2011’s 3rd quarter, but the big story is that Dallas is taking an unusually large lead ahead of Fort Worth.
The Texas markets are looking like hotbeds of job growth and apartment demand over the next few years. But the story is not completely written quite yet. Greg Willett of MPF Research explains.
Demand for D/FW apartments exploded in 2010. But there’s still ground to make up, as the recovery thus far has been lopsided.