They say all things are big in Texas, and when it comes to the current state of multifamily rentals in Houston, Dallas and Austin, the numbers certainly live up to the billing. Last year saw tremendous growth for the Texas apartment market, and industry insiders expect 2014 to follow suit.
Ryan Reid, CBRE’s market leader for multifamily sales in Dallas, says “opportunity” is the buzz word in Texas.
“Most markets are performing very well, and job growth continues overall, which will continue to drive absorption,” he says. “Given the changing demographics of Baby Boomers and Gen Y, we continue to see strong demand for apartments. There is very good capital interest in the space given these factors that I believe provide opportunity for both buyers and sellers.”
Read more...Texas Strong | Multi-Housing News Online