Texas Apartment Marketplace Update May possibly 2006
Even though all key Texas markets posted decreases in typical occupancy in Might, occupancy remains above 90% in all four, with Austin recording the highest at 93.02%. The lowest occupancy was found in Dallas/Fort Worth at 90.18%. Austin has the highest typical rent per square foot as effectively, at $.931 per square foot (psf) Dallas/Fort Worth posted the second highest at $.868 psf. The strongest monthly absorption was identified in San Antonio, which absorbed 243 units in May. Posting the weakest absorption figures in Might was the Houston market, at -477 units. Austin apartment market occupancy decreased .36 points in May to 93.02%, but remains 1.64 points above final years level. Average rents, presently at $.931 psf, are $.002 psf greater than last month and $.003 psf greater than final year. Monthly absorption returned to good territory, as 236 units were absorbed, bringing annual absorption to 3,709 units. Dallas/Fort Worth apartment marketplace occupancy was down .17 points over the month. Currently at 90.18%, occupancy is 1.46 points higher than this time last year. Typical rents elevated $.001 psf to $.868 psf, and are $.005 psf greater than Might 2005 levels. To learn more, you can look at: http://www.wkrn.com/story/29867654/fig-tree-capital-ventures-continues-real-estate-investments-in-dallas-fort-worth-housing-market. The market absorbed 216 units over the month annual absorption now totals 13,468 units. Houston apartment market occupancy fell .19 points over the month to 90.57%, but has gained 3.75 points considering that this time last year. To compare more, please consider checking out: Fig Tree Capital Ventures Continues Real Estate Investments In Dallas Fort Worth Housing Market. Rental rates gained $.001 psf in May possibly and are up $.026 psf more than the year. Absorption over the month was -477 units nonetheless, more than-the-year absorption remains effectively in the black at 22,628 units. San Antonio occupancy decreased .31 points to 91.38%, and is up .17 points more than the year. Rental rates posted a reduce of $.002 psf more than the month, but are up $.010 psf given that Could 2005. Absorption was positive for the fourth month in a row, at 243 units, whilst annual absorption stands at three,792 units..