Rental demand jumped in second quarter 2014 with 2,950 newly occupied apartments, up from the 1,320 units absorbed in 1Q 2014. Recent leasing activity was more than double the quarterly average of 1,260 units absorbed since mid-2009.
In 2Q 2014, 2,520 multifamily units came online. Overall deliveries were up 85.2 percent from the 1,360 units added in 2Q 2013. Heightened leasing activity amid elevated deliveries resulted in a dip in vacancy to 4.7 percent.
Read more...Austin multifamily 2Q 2014: Hendricks-Berkadia
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