July 1, 2016
It’s said that everything is bigger in Texas, and Dallas-Fort Worth has taken that slogan literally – at least, as it pertains to apartments. The metro has more than 50,000 units in the pipeline, the most product under construction in the United States.
The high mark for apartment construction is taking place at a time during which the industry outlook generally remains favorable, according to Greg Willett, chief economist for RealPage Inc. But the amount of construction means the region is in the so-called “vulnerable” stage.
Though demand is still on pace with supply, Willett said if demand should slow, a correction could be coming. For the time being, however, “even with all the new construction, we are absorbing them as fast as it comes online,” Willett said.