DALLAS-CBRE's Q2 2013 Multi-Housing MarketView Report notes that both development and transaction activity took place, with more units coming to market and more multifamily properties bought and sold than the year before.
On the construction side, 14,572 units are currently under construction, with 3,645 units delivered to market during the quarter. Unit absorption was 3,938 units. The report notes that Central Dallas has the most construction (7,466 units under development), while the north and northwest areas have 3,028 units and 2,744 units underway respectively.
Investment activity, meanwhile, saw year-to-date volume at $1.2 billion, well above the $900 million generated year-over-year. Cap rates continue to compress – they averaged 6.3% during Q2 2013 versus 6.4% during the same period a year ago.
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