While the local economies in Texas generally are red hot, there’s been a somewhat surprising slowdown of late in San Antonio’s job production numbers. The Bureau of Labor Statistics reports that employment creation during the year-ending July came in at 12,600 jobs, translating to an expansion pace of 1.4%. That’s not an awful result, but the job growth rate had been running at more than 2% throughout 2012, reaching as high as 2.6% a couple of times during the course of the year.
The slowdown in San Antonio’s economic engine didn’t seem to hurt the area’s apartment demand results in a meaningful way, however. Absorption during 2Q came in at roughly 2,800 units, and demand in the year-ending mid-2013 tallied at some 4,200 units.
Read more...San Antonio Apartments Keep Chugging, Despite Fewer Job Additions | Property Management Insider