Here's the Latest on the Houston
Multifamily Market!
 
AS of June 30, 2020
 
 
 
David
We continue to update you on the impact of Covid 19 for Houston as of June 30, 2020! Please find our update to rents (by class and historical performance) and absorption.

Please feel free to contact me for further information or to discuss any of the charts in this presentation.
 
 
 
 
Figure 1 - The Houston apartment market continues to lose overall rental ground in June. During April and May, the overall rent level dropped by a total of $11. In June, overall rent moved down by another $3. These rent movements keep the overall rent level $14 or -1.3% below those of March when the pandemic locked-down the economy. Class A remains the biggest rent loser while during June the other Classes have been able to curtail their rental slide.
 
 
 
 
Figure 2 - The re-opening of Texas during June is behind Houston’s improving statistics. However, recent spikes of the virus throughout Texas, potentially pose a threat to undermine market conditions. July will be another month to see how the economic slowdown impacts apartment market movements. .
 
 
 
 
Figure 3 - Absorption in June of 1,263 units is very respectable for any June and is the force behind the firming of rent in Classes B, C and D.  
 
 


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