November 5, 2019
The Real Estate Center at Texas A&M University had good news for the Texas apartment sector. Specifically, the majority of areas in the Lone Star State (both metropolitan and micropolitans) demonstrated both positive occupancy and rent growth. “With the supply of single-family starter homes being constrained,” the organization’s Texas Quarterly Apartment Report noted, “young adults continued to rent units in the apartment sector.”
The Real Estate Center noted that the Texas Residential Construction Cycle Index (measuring units under construction) and the Texas Residential Construction Cycle Index were both down, which, in turn, hindered the Residential Construction Index. This means slower residential construction going forward.
Overall, the report is forecasting a positive outlook for the remainder of 2019, due to the strength of the Texas and U.S. economies. Interest rates should continue low. However, Real Estate Center experts indicated that a declining trade environment and global slowdown could mean headwinds to the Texas economy.
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