DALLAS-Local research firm AXIOMetrics Inc. released its results for multifamily construction permits issued in 2012. After analyzing 4,147 locations throughout the United States that had issued permits for housing of five units and above, Houston was solidly at the top, having issued permits for 8,942 units. Following behind was Austin, TX (at 7,545 units), with Dallas coming in fourth at 6,028 units.

Other top locations included:

• Seattle 6,575 units
• Los Angeles 5,540 units
• Denver 4,356 units
• Raleigh, NC 3,549 units

The report goes on to note that, while the market was healthy in 2012, market fundamentals did moderate, compared to 2011. Nationally, annual effective rent growth in 2012 was 3.6%, compared to 4.2% in 2011. Occupancy also increased slightly, from 93.7% in 2011 to 94.3% in 2012. The increase in occupancy in 2012 was primarily due to late-recovering markets, which posted occupancy growth while others maintained their already high occupancy rates.

Multifamily occupancy in the United States is forecasted to reach 94.9% in 2013, with effective rent growth reaching 3.6% by the end of 2013. The occupancy forecast is 60 basis points above the 2012 rate whereas rent growth will be similar to what was experienced in 2012.