"What's hitting the markets is that developers really love Texas," Stuart Showers, manager, research and consulting with O'Connor & Associates in Houston tells GlobeSt.com. "As a result, we have construction pipelines moving along and putting units into the inventory."
 Houston |
Additional numbers from O'Connor & Associates show state-wide occupancy is in the upper 80s, with every city showing a decrease. Austin took the hardest hit with occupancy at 89.63% compared to a year ago, when the state's capital city was 93.25%. San Antonio also saw a huge drop in occupancy. Last year at this time occupancy was 91.02%. Recent figures show occupancy at 88.87%.
 Dallas |
Greg Willett, M|PF YieldStar's vice president, research and analysis says job cuts and excess inventory coming on line will likely result in further occupancy declines during the next year in all four cities. He tells GlobeSt.com that out of the four cities, Dallas is likely to see the most decrease in occupancy, due to the large number of units under construction.
 Austin |
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