With job growth still at a low point and apartment construction as heavy as ever, performance in the market is continuing to lag. However, there is a bright spot on the horizon, albeit in 2018, says Axiometrics, provider of apartment and student housing market intelligence.
“One sunny spot is that the pace of annual effective rent growth decline leveled out a bit,” says Stephanie McCleskey, vice president of research for Axiometrics. “But until the amount of new supply diminishes and the energy sector starts adding jobs again, Houston’s apartment market will likely be sluggish. And effects of supply relief likely won’t be felt until 2018.”
Read more...Multifamily Performance Continues to Lag | GlobeSt.com