(Read more on the industrial market.)
DALLAS-The multifamily market has come to life in the third quarter, with rent and occupancy making their strongest gains this year in Dallas/Fort Worth. Until now, the single-family rental market was undermining the apartment sector as lenders and homeowners waged battles to stave off foreclosures.
Greg Willett, vice president of M/PF YieldStar in Carrollton, TX, tells GlobeSt.com that the third-quarter analysis, set to be released this week, shows occupancy rose 1.2 percentage points to 94.1% in the region's 537,000-unit inventory. In tandem with the uptick was a 2.3% rental increase to boost the average to $724 per month. “It's the best we've done in quite awhile,” he says.
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