With a challenging environment for development, the Radius+ team took a closer look to see how the top 3 markets in Texas have been doing in regards to supply growth and how these compare to previous years.
Dallas-Fort Worth-Arlington, TX CBSA:
- 2023 - 2.3% supply growth
- 2022 - 2.5% supply growth
- 2021 - 4.5% supply growth
- 2020 - .03% supply growth
- 2019 - 4.4% supply growth
Houston-The Woodlands-Sugar Land, TX:
- 2023 - 1.2% supply growth
- 2022 - 1.3% supply growth
- 2021 - 1.4% supply growth
- 2020 - 1.6% supply growth
- 2019 - 3.3% supply growth
San Antonio-New Braunfels, TX:
- 2023 - 1.2% supply growth
- 2022 - 1.3% supply growth
- 2021 - 1.4% supply growth
- 2020 - 1.6% supply growth
- 2019 - 3.3% supply growth
Each of these markets demonstrates steady supply growth but has all slowed down since pre-COVID-19 development numbers (excluding the high supply growth in Dallas seen in 2021). With supply growth slowing down- this could lead to an uptick in rates in time.
