Institutional Property Advisors Releases Texas Multifamily Construction Report
25 Août 2023 - 4:01AM
Business Wire
Institutional Property Advisors (IPA), a division of Marcus
& Millichap (NYSE:MMI), has published a Special Texas
Multifamily Construction Report.
“Apartment construction starts in Dallas-Fort Worth, Houston,
Austin and San Antonio plunged to 6,500 units during second quarter
2023,” stated Greg Willet, first vice president and national
director, Research Services, IPA. “Over the previous nine quarters,
the start volume averaged 22,800 units.”
IPA’s Texas multifamily construction special report gives
investors key insight into construction throughout the state.
- While easing from the recent record volume, ongoing
construction is still near all-time highs, with 174,700 units
coming out of the ground in the primary markets.
- Renter demand facilitated the absorption of over 17,000
apartments in these markets during the first half of 2023,
rebounding from net moveouts last year.
- Dallas-Fort Worth’s 72,900 apartments under construction are
the most in the U.S. and will grow the North Texas market’s
inventory by 8 percent.
- Approximately 10,400 apartments are under construction in the
Allen-McKinney submarket, and about 8,600 are on the way in the
Frisco submarket, making the northern edge of Dallas-Fort Worth the
most active building area in the state.
“It is important to note that the pullback in building can
accelerate the pace of rent growth as early as spring 2024,” added
John Sebree, senior vice president and national director of the
firm’s Multi Housing Division.
IPA’s complete Special Texas Multifamily Construction Report
here.
About Institutional Property Advisors (IPA)
Institutional Property Advisors (IPA) is a division of Marcus
& Millichap (NYSE: MMI), a leading commercial real estate
services firm in North America. IPA’s combination of real estate
investment and capital markets expertise, industry-leading
technology, and acclaimed research offer customized solutions for
the acquisition, disposition and financing of institutional
properties and portfolios. For more information, please visit
www.institutionalpropertyadvisors.com
About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm
specializing in commercial real estate investment sales, financing,
research and advisory services with offices throughout the United
States and Canada. As of December 31, 2022, the company had 1,904
investment sales and financing professionals in 81 offices who
provide investment brokerage and financing services to sellers and
buyers of commercial real estate. The company also offers market
research, consulting and advisory services to clients. Marcus &
Millichap closed 12,272 transactions in 2022, with a sales volume
of approximately $86.3 billion. For additional information, please
visit www.MarcusMillichap.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20230824949720/en/
Gina Relva, VP of Public Relations
Gina.Relva@marcusmillichap.com
Marcus and Millichap (NYSE:MMI)
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