Construction levels continue to surge in Austin, and yet rent growth levels remain strong. How long can that continue, with so much new supply set to deliver over the next four quarters?
Apartment development in Austin has grown exponentially over the past two years. Once the new supply is built, it will expand Austin’s apartment base by 6.8%, the largest future inventory growth rate in the nation by a large margin.
Occupancy: Occupancy is softening in face of all that new supply, falling 30 basis points in Q4 2012 and 60 basis points in Q1 2013 to settle at 94.7%
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