LenaKetron457
All Texas metro markets report present general occupancies above 90%, with Austin leading the industry at 93.39%. The lowest occupancy is discovered in the Dallas/Fort Worth marketplace at 90.35%. Austin also leads the Texas markets in terms of rental rates, reporting the highest rents at $.930 per square foot (psf). Typical rents in the other metro markets are all beneath $.870 psf. Monthly absorption was strongest in the Dallas/Ft. Worth industry, as 641 units had been absorbed in April. San Antonio also posted good monthly absorption, whilst the Houston and Austin markets posted unfavorable figures.
Austin Industry occupancy dropped .07 points over the month, however at 93.39%, occupancy remains two.ten points greater than in April of 2005. Typical rents are presently at $.930 psf and are $.002 psf greater than final month and last year's figures. Absorption dipped into the red this month, as -109 units had been absorbed. Annual absorption stands at 3,589 units.
Dallas/Fort Worth Market place occupancy is up .03 points more than the month to 90.35%, and is 1.70 points above final year's level. Despite the fact that average rents have remained flat over the last handful of months at $.867 psf, they are $.003 psf higher than the rate seen at this time last year. Monthly absorption of 641 units brings annual absorption up to 13,575 units.
Houston Market occupancy fell .27 points to 90.73% over the month. Overall occupancy remains four.29 points higher than April 2005's level. Rental rates inched up $.003 psf over the month and are up $.027 psf more than the year to $.824 psf, whilst monthly absorption was -323 units. Absorption more than the last twelve months is at 24,542 units.
San Antonio occupancy, at 91.69%, gained .08 points over the month and .47 points more than the year. Rental rates are up slightly more than the month, $.001 psf, to $.817 psf, which is $.012 psf higher than last year's figure. This is the third consecutive month of good absorption, as 237 units were absorbed in April. Annual absorption totals 3,473 units.Kenichi Austin 419 Colorado St Austin, TX 78701 (512) 320-8883 sxsw
