There’s no doubting that the apartment market is doing well in Texas. Austin, Dallas, Houston and San Antonio were not hit as hard as the rest of the country during the last recession, have generally enjoyed strong recoveries and have experienced a lot of investor interest, as supported by apartment transaction volume data and increase in new supply.
All the talk about Texas’ apartment market has centered on Dallas, Houston and Austin – and recently Fort Worth, which has become the strongest market in the state. What about San Antonio?
Though the San Antonio Metropolitan Statistical Area (MSA), the market just next door to Austin, drew some investor interest during the early part of the recovery, the interest has been declining somewhat because of soft market fundamentals. Even though San Antonio is not far behind other Texas metros when it comes to the main driver of a robust apartment market – job growth – apartment metrics haven’t reflected that.
Read more...San Antonio Lags via Axiometrics