Was 2Q the Last Stellar Performance We’ll See in Austin Apartments? via Property Management Insider

All of Austin’s apartment performance stats proved great in 2nd quarter. Net demand for about 2,300 units during the three-month period more than doubled the completion volume, so occupancy climbed a notable 70 basis points to 95.4%. And quarterly rent growth came in at an impressive rate of 1.8%, taking the total price increase from mid-2012 through mid-2013 to 4.1%.

But the road does get bumpier starting basically right now. That shift in general momentum reflects the much more aggressive new product delivery volumes that are about to hit, with the first really big block of completions coming in 3Q.

Read more...Was 2Q the Last Stellar Performance We’ll See in Austin Apartments? | Property Management Insider