Multifamily Housing Hot in Texas; Single-family Squeeze May Ease, Says Dallas Fed via Dallas Fed

Apartment construction in Texas will likely moderate, while the state’s single-family housing market may regain traction in 2015, according to the latest issue of the Federal Reserve Bank of Dallas’ Southwest Economy.

The market for single-family housing in Texas lost some momentum in 2014, with record-high prices, depleted existing-home inventories and declining affordability contributing to relatively slow growth in sales, writes Dallas Fed economist Laila Assanie in “Single-Family Housing Squeeze Eases in Texas; Multifamily Soars.”

Improved access to credit and an expanding supply of new homes for first-time and lower-income buyers will be essential for the state’s housing market to strengthen in 2015, Assanie notes.

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