Apartments keep going up; no slowdown in sight via Real Estate Center at Texas A&M

With almost 25,000 apartments in the construction pipeline, Dallas ranks with Houston and New York among the top multifamily home building markets in the country.

There is no sign of a slowdown in apartment starts in North Texas and many other major U.S. markets. The 12-month total of apartment and condo starts was up more than 40 percent in April from a year earlier.

With almost 275,000 apartments under construction across the country, is it time to worry about too much new supply? “Despite what I often hear, I don’t think we are at the point where we are about to overbuild in the apartment industry,” says Mark Obrinsky, chief economist with the National Multi Housing Council.

He said demographics show there is demand for most of the apartments being built.

Read more...Apartments keep going up; no slowdown in sight via Real Estate Center at Texas A&M