tanzoak wrote:Data for December 2016 is in, and ouch. Building permits issued for only 220 total units (only 96 multi-fam) in Dallas for the month. That's the lowest number in over 2 years (Nov 2014). The 5-month total of 3547 for Aug-Dec'16 is the lowest since Sep'14-Jan'15.
On the other hand, overall metro-wide permitting is continuing at the same pace as it has been.
We're still doing fine, of course, but pretty clear that developers are taking a bit of a breather to see how all these upcoming in-city completions are absorbed.
tanzoak wrote:City of Dallas construction is dropping through the floor. We've gotten 7,762 units (5,938 multifam) issued permits over the past 12 months. Compare that to a year ago, when we had issued permits for 13,525 units (12,091 multifam) over the previous 12 months. We haven't had as slow of a year since 2014.
On the other hand, metro-wide construction continues to boom, achieving a cycle high of 60,051 units permitted over the past 12 months. Especially impressive considering the contraction in Dallas city construction.
willyk wrote:ULI/PwC’s Emerging Trends in Real Estate report has placed Dallas in the top five most promising real estate markets in the United States for the last four years. The report highlights massive job and population growth, relatively low cost of living/business, access to space and access to talent as the big drivers for Dallas’ rise. A business-friendly environment, stable fundamentals and the gradual emergence of meaningful barriers to entry have driven Dallas through the longest economic boom in recent memory.
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