UR Sponsors Marcus and Millichap DFW Forum
United Renovations helped sponsor the Marcus and Millichap DFW Forum on October 7th, with over 450 of the top multifamily players in the Dallas/Fort Worth market attending. It was a great day of networking, market information and sharing strategies for multifamily investment success. We were proud to place Jason Hannah of the Bascom Group on the Value Add panel. Jason did a fantastic job!
Here are a few things we learned about the DFW multifamily situation:
- DFW ranks second (behind Houston) for top 10 metros with positive employment change through August 2014.
- After a six year dramatic drop in single family construction, there is large pent-up demand for multifamily housing.
- Texas employment growth has been at or above national employment growth since 1991.
- Texas is seeing approx. 50,000 new units delivered in 2014, with average vacancy rates being down to approx. 6%.
All things are pointing to continued growth in the DFW market, making it a great time to renovate existing multifamily properties to compete with new construction, retain current residents, gain new residents and increase rent value.