Analysts knew there was a demand for Dallas-Fort Worth apartments; but they didn’t think it was this hot.
3,074 new apartments were built last quarter in North Texas. The apartment sector is currently outperforming expectations, with examples directed towards home sales back in 2007. Last year, Dallas-Fort Worth led the rest of the country with a demand of 16,647 apartments, which is nearly 2,000 apartment units above Houston, which came in second.
The region also added more apartments than any other metro in the country with 12,977 new homes added to the market, which is about 3,000 more than Washington, D.C., which came in second, according to the data.
There are a number of new developments slated to take shape in 2014, many in newly designed “submarkets” such as luxury apartment communities currently underway in the popular Knox-Henderson area and the planned expansion of South Side on Lamar.