Top 10 (Plus One) Markets for Supply in 2014 and Rental Performance

Multifamily construction has been strong across the nation, but some markets clearly lead the pack.

Multifamily construction has been strong across the nation, but some markets clearly lead the pack. The following chart shows the top 10 (two tied for 10th) markets for units completed in 2014 as a percentage of total completed units.

TopTenPlusOne_050115_construction

Click on image to enlarge.

The Texas markets along with Denver and Seattle comprise the top half of the list, and all are over 4 percent. Of note is that most of these markets are within the “smile” footprint.  The next chart lists the same markets with their rental growth.

TopTenPlusOne_050115_YOY

Click on image to enlarge.

The top half of the list all continue to have significant rental growth, indicating that they are still furnishing an unmet housing demand. The Washington and Northern Virginia markets appear to be struggling with over-saturation.