December 2008

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Dallas/Fort Worth market occupancy continued to decline in December; however area occupancy remains toward the upper end when compared to the major Texas markets.  Rental rates in the Dallas/Fort Worth area continued their climb in December and are still second only to those found in Austin.  Absorption of -983 units by the Dallas/Fort Worth area in December was the second worst monthly absorption figure of the four major Texas markets.

Dallas/Fort Worth apartment market occupancy decreased 0.31 points in December to 89.81%.  With the monthly dip, area occupancy falls to 0.87 points below last year’s level.  Rents per square foot continued to increase over the month at $0.891, which represents a $0.009 psf annual gain.  Rental rates per unit posted a monthly increase, raising $1.78 to $758.03.  Over the last twelve months, rent per unit has increased $10.69.  Absorption in December was -983 units, while annual absorption stands at -666 units.

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