We are excited to share with you the Chart of the Week! Through our real-time data, we are building a series of visuals, charts, and graphs depicting the most important trends in the multifamily industry. This week we are analyzing who is leading the nation in traffic.
Top 10 Markets for Units Under Construction
New supply is once again having an impact on property fundamentals. There are more than 1 million units currently under construction nationwide as developers continue to add apartment stock in a number of markets. Most of the new development is taking place in sunbelt markets, but major gateway markets including New York and Los Angeles are also adding a significant number of new apartments. Three Texas metros find themselves in the top 10 for total units under construction, as the Lone Star state has been one of the fastest growing population centers in the nation. While some short term pressure may arise with deliveries reaching recent highs, the new apartment stock should eventually be absorbed as the country remains in an overall housing shortage.
Follow the series on LinkedIn and radix.com/research and share your feedback! We would love to hear from you with suggestions for future trends to cover!
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