The data behind Austin's red hot apartment market could spell relief for some renters. Almost 18,000 units are now under construction in the metro area and some of the new complexes are concentrated in smaller submarkets.
Those submarkets could see rent concessions return after years of escalating prices and diminished supply, according to the latest Austin Multi-Family Trend Report published by Austin Investor Interests LLC.
"In the short run, the abundance of (Class A) product that will enter the market over the next two seasonally slow quarters are likely to saturate these areas creating a bit of market competition," the report states.
Read more...Austin apartment market still on fire; could mean rent relief on its way - Austin Business Journal