- Both supply and demand conditions in Dallas-Fort Worth slowed during the third quarter, but growth is stronger than in nearly every other major market in the country. The pace of deliveries is lagging year-earlier levels but will accelerate beginning in 2023.
- Vacancy ended the third quarter at 5 percent, similar to the market’s average since 2014. Heightened renter demand pushed the rate to a cyclical low at the beginning of this year, but vacancy trended higher in each of the past two quarters.
- Even as vacancy has pushed higher in recent months, rents have maintained a steady upward trajectory. Rents ended the third quarter at $1,540 per month, up 15.4 percent year over year.
- Apartment property sales were very active at the start of this year but slowed in recent months. Still, year-to-date transaction activity is nearly identical to the number of deals that closed in the first three quarters of 2021. Prices have generally held steady, while cap rates have risen to about 4.5 percent on average.