If you need further proof that DFW’s apartment market is still booming, here’s some: according to recently released data from RealPage, North Texas led the entire country in apartment permits in October, which could result in 3,182 more rental units being delivered all over the DFW region.
The report also shows that apartment building in our market has also spiked 14% in 2017, which might be surprising to some given it looked like things might begin to slowdown on the rental side of the market earlier in the year.
Now, with nearly 3,200 more units approved, DFW’s 12-month ending permit pace at the end of October has exceeded 22,000 units, which is second to only New York City’s 31,060 multi-family building permits.
But as noted by the Dallas Morning News, significantly fewer properties seem to still be in the planning stages at this point, so there is the possibility we’re seeing the last burst of building starts for this current economic cycle, which clearly isn’t over just yet.
Posted by Kenneth G. Cox on
Leave A Comment