Houston’s pipeline of new apartments is dwindling in response to the oil slump.
However, thousands of apartments are still going up across the Bayou City.
CBRE Group Inc. (NYSE: CBG), a commercial real estate firm with an office in Houston, analyzed information from Houston-based Apartment Data Services and found that 17,694 apartment units are planned or under construction across the metropolitan area.
In fact, Houston has the third most apartments proposed or under construction nationally, according to Yardi Matrix, the multifamily research arm of national apartment search website RentCafé. Only New York City (26,739 units) and Dallas (24,960 units) have more apartment units in the works.
Click to read more at Houston Business Journal.