you’re in the business of helping families who are buying and selling real estate, right? so why should you get excited that RENTAL demand has jumped? first let’s talk about the jump. during the last 3 months DFW net apartment occupancy has jumped by more than 6,500 units….that’s the STRONGEST performance in more than 2 years according to stats released by MPF Research Inc. In fact, this year’s increase alone makes up for ALL of the apartment leasing declines in ’08 & ’09 combined.
WHY is this good? first of all it shows signs of a strengthening local economy. D’ann Peterson, business economist with the fed reserve bank of dallas said “the sharp declines in DFW employment have ebbed and in the last quarter of ’09 and in january of ’10 we’ve actually had some modest but positive growth” (unlike the rest of the country). Additionally DFW continues to experience an influx of residents which is boosting rental AND housing demand. north Texas led the country in population growth in the most recent census numbers. MY THEORY? influx of residents = rental demand = more and more first time homebuyers = demand for first time buyer-like properties = move-up buyers ability to sell = demand for 2nd/3rd time buyers = etc, etc, etc….. i think you get where i’m going with this. according to cole the real estate sky is NOT falling. according to cole you better watch out for the DFW tsunami!