Texas CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Dallas Drops to Second in Large City Apartment Construction
The Dallas/Fort Worth area had been the leader in new apartment development for the last four years running. Eventhough, the Dallas metro area has over 23,000 apartment units under construction, DFW will be surpassed by New York City, with over 28,000
A recent Yardi Matrix survey reports that Texas represents three out of the top five leaders in apartment construction, with Austin bringing 18,300 (4th) and Houston (5th) 17,700 new units.
Yardi Matrix’s Doug Ressler gives his assessment of the recent numbers, “The construction industry is finally returning to pre-pandemic levels of activity but is still being hampered by three familiar challenges; labor shortages, material costs and availability, and supply chain issues.”
Nationally, over 400,000 units are expected to be completed in the end of this year, the first time over the 400,000 number since 1972.
- ◦Economy
