Q2 2019 tallied the highest net absorption on record, as tracked by CBRE Research going back nearly thirty years, with 11,523 units demanded.
For the first time in nearly three years, annual absorption is exceeding supply, resulting in a significant 92 basis point (bps) climb in occupancy and 3.0% annual rent growth across Dallas/Fort Worth.
Annual starts (21,456 units) have begun to fall short of annual deliveries (22,994 units), hinting that the construction pipeline will be shrinking soon.
Single-family housing development is cooling off. For the first time since Q1 2012, annual starts have declined.