Dallas-Fort Worth apartment development and demand are on a hot streak, outperforming expectations by analysts.
In the fourth quarter, North Texas developers built 3,074 new apartments, and although demand for apartments typically chills with the weather, the demand roughly kept pace with 2,739 apartments absorbed in the quarter, according to research by Carrollton-based MPF Research, a division of RealPage Inc.
"The Dallas-Fort Worth apartment sector continues to outperform expectations," said Jay Parsons, MPF Research's national market analysis manager, in a written statement. "It's certainly reflective of the strength of the local economy that apartment demand remains so robust at the same time single-family home sales are back to 2007 volumes."
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