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    standing apart

    Houston booms with new apartment construction in 2020, report says

    John Egan
    Aug 20, 2020 | 9:30 am
    Drewery Place apartments Houston
    Houston comes in at No. 7 on a new list of most apartments completed during the first six months of 2020.
    Photo courtesy of Caydon

    The coronavirus pandemic has brought many activities to a unsettling halt. But it has failed to blunt Houston’s apartment construction boom.

    New data from Yardi Matrix, a supplier of commercial real estate data and research, shows that Houston comes in at No. 7 for most apartments completed during the first six months of 2020, with 2,085 apartments built.

    Houston also comes in third place for projected apartment completions in 2020 is the Houston metro area. Yardi Matrix foresees the Bayou City region welcoming 10,404 new apartments this year, up 2 percent from 2019.

    Little surprise to those paying attention to Texas real estate: More apartments were completed in Austin during the first six months of 2020 than in any other U.S. city. In the first half of the year, construction of 3,827 apartments was finished within the city of Austin, according to Yardi Matrix.

    Right behind Austin on that list is San Antonio, where 2,871 new apartments hit the market in the first half of this year. Dallas follows Houston at No. 8 with 1,869 units; behind Big D is Farmers Branch, No. 18 with 1,161 units.

    “Around the U.S., we have seen a variety of states, counties, and cities choose to close nonessential businesses for ‘stay at home’ or ‘shelter in place’ orders. For the most part, construction activity has been included as an essential activity that can continue with business as usual during these orders,” Doug Ressler, manager of business intelligence at Yardi Matrix, says in a release.

    “The popular Texas metropolitan area saw an increase of 62,000 residents from 2018 to 2019,” Yardi Matrix says. “In response to the high demand, Austin metro has been an active scene for new construction in the past five years, having completed over 50,000 new apartments since 2016.”

    In the Yardi Matrix forecast, Dallas-Fort Worth eclipses all other U.S. metro areas for the number of new apartments predicted to be finished this year — 19,318. This would be DFW’s third year in a row to lead all metro areas for annual apartment construction, with New York City claiming second place.

    While that’s an impressive amount of apartments, this year’s anticipated final total for DFW would be down 29 percent versus last year, Yardi Matrix says.

    Coming in at No. 19 for predicted apartment completions this year is the San Antonio area, with 4,595 new units on taps. However, that total would represent a 20 percent jump over last year, putting San Antonio in fourth place for the percentage increase from 2019 to 2020.

    rentreports
    news/real-estate

    Homebuying strategy

    The best time of year for deals on Houston homes is coming soon

    John Egan
    Aug 27, 2026 | 10:30 am
    Home for sale sold sign
    iStock
    Back-to-school season turns out to be prime homebuying season.

    Back-to-school season turns out to be prime homebuying season in Dallas-Fort Worth and the state’s three other major metros.

    A new report from real estate brokerage Redfin finds mid-September reigns as the best time for homebuyers to score a deal in Dallas, Fort Worth, and San Antonio.

    The report pegs late August as Austin’s best period for nailing down a home deal, while late September is Houston’s sweet spot.

    “Each homebuyer has their own timeline based on personal circumstances. But seasonality trends suggest buyers in these places looking to score a bargain may want to hit the pavement as summer comes to a close and the leaves start falling,” Asad Khan, a senior economist at Redfin, says in a release.

    “Sellers who put their home in the market in the spring or early summer and haven’t offloaded it yet may be open to dropping their price or offering concessions,” Khan adds.

    Redfin cautions that the best time to buy is more complicated than when a homebuyer is most likely to land a deal. Redfin economists recommend balancing choice and competition when shopping for a home.

    “More inventory to choose from improves the chance of finding the home that’s right for them, and more competition creates more urgency and requires stronger offers to win a home, decreasing the likelihood that buyers will get a deal,” says Redfin.

    Redfin emphasizes that most places in Texas are now buyer’s markets, equipping buyers with negotiating power. In fact, the majority of Texas markets have roughly twice as many buyers as sellers, according to Redfin.

    The Redfin analysis, based on data from Home Economics, looked at three metrics for determining the best times for homebuyers to make a deal:

    • The week when the number of new listings is the greatest compared with the annual average.
    • The week when the number of active listings on the market for 60 days or less is the greatest compared with the annual average.
    • The time when the average home price drops the most heading into late fall or winter.
    news/real-estate

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