DALLAS—The US apartment market is recording new highs in apartment deliveries. More than 345,000 new apartments are scheduled to be completed this year in large-scale developments. In other words, more units are set for 2017 than in the last 20 years.
According to Yardi Matrix senior analyst Doug Ressler, all this new construction may work in the renters' favor, at least in the near future.
“With more units on the table, renters may be able to get some discounts and concessions on new leases, including one month of free rent, waived move-in fees and free gym memberships,” says Ressler.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
