There was a strong demand for apartments in North Texas during the second quarter, despite rebounding home sales.
In the quarter, renters absorbed 8,031 apartment units, or more than five times the completed 1,563 apartment units. Apartment occupancy was 94.1 percent in the second quarter, up a full percentage point over the last quarter, according to data collected from Carrollton-based apartment analyst MPF Research.
"Substantial job growth in North Texas is keeping apartment demand robust at the same time that single-family home sales are rebounding from their recently low levels, said Greg Willett, vice president of MPF Research, in a written statement. "These are the kind of housing demand numbers we were hoping for and expecting to see."
Read more...North Texas job growth leads to robust apartment market - Dallas Business Journal