Apartment Building Permits are Dropping in D-FW and the U.S.
The pandemic is a continuing drag on North Texas building starts. Permits for new Dallas-Fort Worth apartment construction were down again in September.
“Dallas multifamily permits are down almost 20% from last year, but the market remains in the top five nationally with more than 13,300 units permitted for construction in the year ending in September,” RealPage’s Chuck Ehmann wrote in a new report. Ehmann said apartment permits were down even more in Fort Worth, where activity was 29% off last September’s pace with 5,699 units permitted.
“The Dallas-Fort Worth area remains a strong leader for population and job growth, both regionally and nationally,” Ehmann said. “That will continue to fuel demand for new multifamily residential construction going forward.”
Dallas-Fort Worth leads the country in apartment building with more than 40,000 units under construction. Nationwide, apartment starts were down by more than 17% from September 2019, according to RealPage.
Some of the greatest declines from a year ago were in Atlanta (-4,824), San Francisco (-3,597), Charlotte (-2,705) and Jacksonville, Fla. (-2,672)...
