Austin rents ease as new units come into market via Real Estate Center at Texas A&M

Central Texas apartment dwellers are about to get some relief in 2015, as thousands of new units enter the market and ease the metro area’s demand crunch.

More than 10,000 apartment units opened in the metro area last year, and another 8,000 or more units are expected to enter the market this year, according Charles Heimsath, president of Capitol Market Research.

The boom in apartment supply dropped the area’s occupancy rate to 94 percent in the last half of 2014 — the lowest occupancy level in more than three years, and nearly 4 percent below the recent high of 97.8 percent in June 2012.

Read more...Austin rents ease as new units come into market via Real Estate Center at Texas A&M