July 2009

Click here to view as PDF.

The month of July was favorable to the Dallas/Fort Worth multi-family sector as strong positive absorption helped counterbalance deliveries, allowing occupancy to remain stable. Overall, market rents were essentially flat; however, Class A rents have been falling precipitously over the previous six months as per unit averages are now down $10.01 during that time frame.  The coming months should continue the trend of stable to slightly increasing rents, accompanied by declining occupancy.

Dallas/Fort Worth apartment market occupancy decreased 0.01 points in July to 88.79%.  With the monthly dip, area occupancy has fallen 2.19 points below last year’s level.  Rents per square foot had no change over the month, remaining at $0.889. Over the year, per square foot averages are up $0.003.  Rental rates per unit posted a monthly increase of $0.11 to $757.94.  Over the last twelve months, rents per unit have increased $5.68.  Absorption in July was 815 units, while annual absorption stands at -3,617 units.

To subscribe or unsubscribe to this update, please send an email to Scott Sherrill or call
1-800-856-REAL (7325) ext. 4264.

O’Connor & Associates / Research & Consulting Group
Houston: 713-686-9955   Dallas: 214-727-5673