• Key metrics of the San Antonio area multifamily sector were mostly positive in November, except for occupancy which saw a decline with the other sectors.
  
  
• Overall occupancy recorded a decrease for the third consecutive month; occupancy decreased for all classes, with Class A properties recording a decrease of 0.28% to close at 94.7%. On an annual basis, occupancy increased by 0.9% in this class.
  
  
• Average rental rates per square foot continued to increase for all classes. The Class A average ($1.043) represented an increase of $0.013 over the year. The Class B average ($0.868) represented an increase of $0.014 over the year.
  
  
• Rental rates per unit decreased significantly for Class A properties, coming down by $1.42 compared to October to close at $949.17 per unit. This is the first dip since March this year. The Class B average has steadily increased over the last nine months to close at $671.34 per unit.
  
  
• 3,039 units are in the construction pipeline. One-third of the 12 projects underway are pre-leasing.

San Antonio Apartment Market Key Metrics

Occupancy	91.48%	Rent / Unit	$717.69	Rent / SF	$0.883
Monthly Change	-0.21%	Monthly Change	+$1.17	Monthly Change	+$0.002
Annual Change	+0.83%	Annual Change	+$9.71	Annual Change	+$0.013

Absorption in the San Antonio sector in November was negative (-315), while annual absorption totaled positive 1,530 units. 2,030 units are in the planning stage.

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