An unexpected surge in May apartment leasing in North Texas has caused vacancies to fall.
Net apartment leasing last month totaled 7,960 units — one of the strongest monthly totals in decades.
"That demand total drastically surpasses the performance seen in any other single month since this economic cycle began in early 2010," said Greg Willett, chief economist with Richardson-based RealPage. "The previous high was about 4,200 units in March 2014."
Read more...D-FW's May apartment leasing was the strongest in more than a decade via Dallas Morning News