Demand for apartments in San Antonio came in at a whopping 3,251 units during 2014’s second quarter. That’s the biggest quarterly demand figure seen since MPF Research began tracking the metro market more than 20 years ago. Furthermore, the result marked an abrupt upward shift in momentum, as San Antonio previously was not registering the strong leasing activity seen in the other big apartment markets across Texas. Emphasizing just how lackluster demand had been Q2’s absorption tally represents 89% of all the demand posted in the metro over the past year.
While new properties moving through the initial leasing process accounted for the majority of San Antonio’s apartment demand during Q2, meaningful absorption also occurred in the existing product base’s middle-market and bottom-tier properties.
Read more...Apartment Market Update from MPF’s Greg Willett: Apartment Demand Kicks Up in San Antonio | Property Management Insider
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