Multifamily buyers continue to flock to the Dallas-Fort Worth, as Texas still leads the nation in non-farm employment growth. It has been reported that 40 percent of all new jobs created in the United States since June 2009 were created right here in Texas, and forecasts say 1.6 million new net jobs will be added through 2015. More jobs equate to the need for more housing.
2011 saw a limited amount of multifamily deliveries (approximately 5,500 units), and not much more is scheduled for delivery in 2012 (6,500 units). MPF Research reports that DFW has had 11 straight quarters of positive apartment demand and year-over-year rent growth is at a two-decade high. This is all great news for the multifamily industry, as this is what drives rents. Revenue growth should increase by 6.5 percent in 2012, and I expect to see more product come to market in the second and third quarters this year.
Read more...Real Points » Blog Archive » Brian O’Boyle: Why 2012 Should be Banner Year for the Multifamily Sector via D Magazine
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