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Houston’s Apartment Supply Lags Demand

hamilton-zanze July 25, 2013

Houston’s job market is thriving, home prices and mortgage rates are increasing, and apartment demand remains sky-high. According to Marcus & Millichap’s market report, even the 9,250 units scheduled to be delivered in 2013 (77% more than 2012) will not satisfy demand: the Houston-area vacancy rate is forecasted to top out at 7.9%.

With so many looking to rent, apartment operators have the luxury of leasing units concession-free. About 17% of available units in Houston offer concessions, down from 29% in 2012 and 45% in 2011.

Read the full article at GlobeSt.com

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