Bustling apartment construction activity drove inventory in 15 of the country's 50 largest markets above 10% in the first quarter of this year. The region that reflected the trend most was the Sun Belt, due to migration in and population soaring since the pandemic began, according to RealPage Market Analytics.

Texas and in particular its Dallas/Fort Worth area showed significant supply volume and helped it earn the title in the report of "nation's construction powerhouse." More than 74,000 units are in the pipeline there, which represent an all-time high. Four areas are where inventory is growing the most. The south suburb of Burleson/Johnson County in Fort Wayne won the top spot with an all-time high increase of 20.1%. It was followed by two other Fort Worth submarkets: North Fort Worth/Keller at 13.4% and South Arlington/Mansfield at 12.4%. The other Dallas submarket making the list was Frisco, which saw growth of 14.9%.

Though the Dallas/Fort Worth area had shown softening apartment demand, two of its northern suburban submarkets of Fort Worth/Keller and Frisco were leaders in absorption in the past year, which helped compensate for weakness in other nearby submarkets.