March 21, 2017
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The Houston apartment market was at elevated risk for investment, according to a report from MPF/RealPage, an apartment market research company. According to a report issued by the company, the metro was unstable, due to economic and apartment market variables.
Rent contracted annually for two consecutive quarters, meeting MPF’s definition of a “rent recession.” Though absorption was higher, “occupancy continues to weaken on an annual basis, sliding in four of the past five quarters,” the report noted. On the supply side, Houston has been experiencing strong net inventory growth, while income growth continues weakening.
The good news, the report pointed out, is that population growth “has been a steady boost to the region’s economy.”
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