The apartment sector is performing at historically strong levels, especially in the Dallas-Fort Worth area. But can it last? This was the topic discussion of the day at Bisnow's "Dallas Multifamily Boom: What's Next?" conference on June 23. With annual effective rent growth at 6% and the occupancy rate topping 95.5%, according to Axiometrics’ apartment market research, DFW is proving to be a resounding success story, thanks to an expanding population and upward-trending job growth.
“Job growth, nationally, is better than at any point since 1999,” said Axiometrics Senior Vice President Jay Denton, the conference keynote speaker. As job growth helps spur housing demand, this is good news. But all is not rosy; Denton also said new supply could put a damper on the boom, especially in DFW.
Read more...Sector Booms, But . . .
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