The pace of apartment rental in Dallas-Fort Worth has ground nearly to a halt this year.
And the dramatic slowdown in apartment demand in North Texas has left industry analysts scratching their heads.
“It’s pretty ugly,” said Greg Willett of apartment consultant M/PF YieldStar. The latest leasing numbers were released Thursday.
“Results for the second quarter fell way below expectations,” he said, with virtually no increase in apartment rentals.
For the first half of 2007, net apartment leasing has added up to only about 300 units. Compare that with the more than 7,000 net apartments leased in the first six months of 2006.
Mr. Willett blames a combination of homebuilder giveaways and for-rent homes for stealing the apartment market’s thunder. Read more » »
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