August 13, 2013
Market: Dallas, TX
In Q2 2013, the Dallas apartment market saw year-over-year increases in both construction activity and multifamily transactions. As reported by CBRE, 3,645 units were delivered to the market in April, May, and June this year, with another 14,572 units under construction. Development is centered in central Dallas, where 7,466 units are being built.
Multifamily transaction activity also saw year-over-year increases, with $1.2 billion in investments changing hands during the first half of 2013. That is 30% higher than the same time last year. Cap rates also compressed slightly, falling from 6.4% to 6.3% year-over-year.
Read more at GlobeSt.com.
August 1, 2013
Market: Dallas, Houston, Phoenix, Seattle
Four of Hamilton Zanze’s markets placed in the top five in Monster.com’s recent ranking of the best American cities for employment growth. Dallas-Fort Worth came in first place, followed by Houston, Seattle, and Phoenix in second, fourth, and fifth place, respectively. Here are each MSA’s job gains in June 2013 from a year earlier, as reported by the U.S. Bureau of Labor Statistics:
- Dallas- Fort Worth: 83,571 jobs
- Houston-Sugar Land-Baytown: 75,827 jobs
- Seattle-Tacoma-Bellevue: 72,128 jobs
- Phoenix-Mesa-Glendale: 19,439 jobs
Read the original article at Phoenix Business Journal.
August 2, 2013
Markets: Houston, Austin, Dallas, Denver, Seattle
Houston permitted 16,410 multifamily units from June 2012 to June 2013, the second-most of any metro, according to Axiometrics, Inc. Houston’s permitting numbers, which trail only New York City, are a 73% increase from a year earlier. In addition to Houston, four of Hamilton Zanze’s markets ranked in the top 10 for multifamily permitting over the last year: Dallas (11,679 units), Austin (11, 483), Denver (8,563), and Seattle (8,434).
Axiometrics reports that nationwide, rents grew 3.5% from their June 2012 levels, and occupancy increased 41 basis points.
Read the full article at GlobeSt.com.
Market: Dallas, TX
July 19, 2013
The Dallas housing market is on pace for its best year in decades. According to Dallas News, the city has seen a 10% rise in single-family home prices and a 20% increase in home sales year-over-year.
In the past 12 months, 35,000 residential permits have been issued in Dallas-Fort Worth to accommodate the area’s addition of 104,600 jobs. Still, housing demand exceeds supply, driving up the median sales price for a single-family homes to an all-time high of $186,000.
Read more at Dallas News.