June 2012

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Market Summary

• The key metrics for the Dallas/Fort Worth area multifamily sector recorded positive changes both over the month and over the year.
  
  
• Over the month occupancy continued to rise for the individual classes, with Class A properties recording a change of 0.16% to close at 94.73%. Over the year, occupancy in Class B properties recorded a change of 1.08% to close at 93.5%.
  
  
• The average rental rate per square foot continued to make upward changes for individual classes, with Class A properties recording a change of $0.004 over the month and of $0.022 over the year to close at $1.110 per square foot. The Class B average went up by $0.021 over the year to close at $0.876 per square foot.
  
  
• Average rental rates per unit also recorded significant changes both over the month and over the year for all classes. For Class A, the average stood at $1,053.14 per unit which represented a change of $3.79 over the month and of $19.57 over the year. The Class B average went up by $2.42 over the month to close at $715.18 per unit.
  
  
• 15,050 units are in the construction pipeline spread over 56 projects; 22% of the units (3,415 units) are currently pre-leasing.

Absorption in June was positive 743 units, bringing the annual total to a positive 7,511 units. 3,057 units are in the planning stage.

O'Connor & Associates -- Your Key to Real Estate Success
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2200 North Loop W., Suite 200
Houston, TX 77018
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Houston • Dallas • San Antonio

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