HOUSTON—The multifamily market appears to have turned a corner,with demand outpacing deliveries by more than two-to-one, accordingto Berkadia's first quarter2018 Houston multifamily report. Renters newly occupied 2,971apartment units during the first quarter of the year–more units byfar than any other metro area, except Dallas-Fort Worth and NewYork City (with 4,340 and 3,148 units newly occupiedrespectively).
“There continues to be a lot of capital in the market lookingfor deals. While interest rates are rising, they are stillhistorically low and Houston is well-priced relative to other majormarkets,” says Tucker Knight, senior managing director of Berkadia.“As a result, we anticipate continued investor interest and dealactivity in the year to come.”
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