From: Texas A&M Real Estate Center // Marcus & Millichap
August 26. 2009
The addition of new supply will weigh on apartment fundamentals in the Austin metro through the remainder of 2009, despite a modest increase in demand, according to Marcus & Millichap Research Services.
As developers expand metrowide inventory by nearly 7 percent this year, owners are expected to significantly widen concessions to fill new projects. This trend will be most prevalent in the Class A segment, where new complexes will drive a 13 percent increase to stock and competition from alternative housing options is elevated.
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