Tuesday 11 December 2018
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Texas A&M - 20 days ago

Austin multifamily construction up, vacancy down

​​​​​​AUSTIN – Marcus Millichap has released a Multifamily Research Market Report for fourth quarter 2018, predicting year-end trends and reviewing third quarter statistics. Highlights include #58;Completions ticked up over the past 12 months as developers increased stock by 9,800 units.
The average rent advanced at its strongest pace since 2016, reaching $1,252 per month in the third quarter.
More than 12,800 market-rate apartments are underway with delivery dates scheduled through 2020. Nearly 5,600 of these units will be delivered in the North Central and East Austin submarkets.
​Vacancy will decline during 2018 for the first time in more than five years to 5.5 percent.​

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