August 2009

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The Dallas/Fort Worth multi-family sector has posted its second straight month of positive absorption, leading way to a marginal increase in occupancy for the overall market, as well as a full half percentage point increase in occupancy among Class A properties (90.84%).   All is not well though, as rents for the market area continue to stagnate with little change being exhibited over the past several months.  The construction pipeline also remains a concern as the high level of supply currently outpaces current demand.  Because of this factor, anticipate rents to remain flat while occupancy either follows suit or resumes its decline.

Dallas/Fort Worth apartment market occupancy increased 0.11 points in August, but has fallen 2.08 points below last year’s level to 88.90%.  Rents per square foot had no change over the month as well as the year, remaining at $0.889.  Rental rates per unit over the month decreased $0.02 to $757.92., while rents per unit have increased $3.34 over the last twelve months.  Absorption in August was 916 units, while annual absorption stands at -3,736 units.

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