Lots of New Supply So Far Hasn’t Derailed Austin’s Apartment Market Performance via Property Management Insider

With properties totaling another 3,100 apartments finished during 2Q, Austin now has added just over 8,700 units during the past year. The metro’s 4.6% annual inventory growth pace recorded since mid-2013 is the second most aggressive expansion rate seen across the country, topped only by Raleigh’s inventory growth of 5.5%.

While lots of new product coming on stream often creates a competitive leasing environment, there’s not much of a problem if big supply is accompanied by big demand. And that’s what we’ve seen so far in Austin. Net absorption in the apartment sector came in at some 3,500 units during 2Q and roughly 7,900 units over the past year.

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