Where Houston apartment vacancies are the highest and lowest

Apartment vacancy rates are climbing across Houston as developers are set to deliver a whopping 23,500 units this year, according to a new report.

Marcus & Millichap Inc. issued its second-quarter multifamily market report, which found that Houston’s apartment vacancy rate has jumped 140 basis points year over year to 8.2 percent. Last year, the vacancy rate climbed 60 basis points. One basis point is equal to one hundredth of one percent.

Click to read more at Houston Business Journal.

New San Antonio office construction at an all-time high

First quarter 2017 saw a record amount of new office construction in the Alamo City, further proof that the city’s economic outlook is strong.

Of the 1.2 million square feet of new office space under construction in San Antonio, 738,000 square feet was started during first quarter 2017 alone, according to the latest office market report from Transwestern.

Click to read more at San Antonio Business Journal.

Austin’s retail landscape tight as a drum

Brokers of retail space certainly have their work cut out for them these days.

Demand for retail sites remains strong as the population continues to grow quickly throughout the Central Texas region — especially in the suburbs. That leads to a lot of new options coming online, higher rental rates and somewhat difficult times for shopkeepers eager to expand.

Click to read more at Austin Business Journal. 

Houston among top 10 on new list of America’s 50 Best Large Cities

Houston takes the No. 7 spot on Resonance Consultancy’s 2017 list of America’s 50 Best Large Cities.

The Bayou City was the only Texas metro to make the top 10, while Austin came in at No. 11, Dallas was No. 15, and San Antonio ranked No. 17. However, El Paso did rank No. 10 on the list of best small cities in the U.S.

Click to read more at Houston Business Journal.

Record-setting start to summer; Central Texas housing sale dollar volume tops $1B in May

The Central Texas real estate market shows no signs of slowing down, with the sales dollar volume for single-family homes in the Austin region reaching an all-time record $1.2 billion during the month of May. This marks the first time in 2017 that the sales dollar volume has surpassed $1 billion in a single month.

According to the Austin Board of Realtors’ monthly report, released Thursday, gains in listing activity and housing inventory should boost the real estate market in what was already projected to be a busy summer.

Click to read more at Austin Business Journal.

See how Houston’s industrial transactions rank in the U.S.

Following robust activity in the first quarter, the nation’s industrial vacancy rate is sitting at an all-time low, per a report from Colliers International.

The volume of industrial activity in Houston mirrors that trend, both in terms of acquisitions and dispositions and standard net leases.

Click to read more at Houston Business Journal.