San Antonio Multifamily Market Sees Decrease in Metrics

San Antonio Multifamily Market Sees Decrease in Metrics

Multifamily market fundamentals in San Antonio have begun to soften, particularly in terms of transaction and new construction volume. According to a Yardi Matrix survey, the metro’s rent movement was negative for four consecutive months through March, dropping 0.3 percent on a trailing three-month basis to an overall average of $1,274 – lower than the U.S.’s flat figure at $1,706. The occupancy rate in stabilized properties also decreased 170 basis points over 12 months ending February 2020 to 93%.

Deliveries through March were minimal with only 78 units from one fully affordable community coming online; however there is still 16k units underway with 8455 projected for completion by year-end according to Yardi Matrix predictions. Investors traded just $176 million worth of multifamily assets which averaged out at just over $100k per unit price point .

About the Publisher:
Steve Griffin is based in sunny Palm Harbor, Florida. He’s an accountant by profession and the owner of GRIFFIN Tax and REVVED Up Accounting. In addition, Steve founded Madison Avenue Technology. With a strong passion for commercial real estate, he’s also dedicated to keeping you up to date with the latest industry news.

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