DALLAS-Axiometrics Inc.'s October 2013 apartment report notes that multifamily property deliveries scheduled for 2014 and 2015 are ramping up due, in part to projects launched in 2013. The prediction for 2014 is that deliveries will be nearly two times the level they were in 2013, and nearly three times the level of what was delivered in 2012.
Also, the locally based apartment research firm points out that number of units to be delivered in 2014 has solidified. As such, the firm predicts that 230,000 units will come online next year versus the 133,000 originally forecasted.
"As the year progressed, more properties advanced from the planning to construction stage. Once properties begin construction, they are added to Axiometrics' identified delivery schedule, which is different than a forecast," the report says.
The report also says that not all projects launched within the past six months will deliver in 2014. But the chart indicated details the definite increase in multifamily construction.
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