U.S. demand for apartments soared to just a hair under a half-million units during the year-ending 2nd quarter. That tally blows away the annual product absorption numbers seen since Baby Boomers were first establishing their initial households back in the 1960s and 1970s. Texas metros have led the charge, accounting for about 15% of the nation’s total demand in the past year. Dallas/Fort Worth’s occupied apartment increase of more than 31,700 units ranked best nationally, while Houston’s demand tally also proved impressive at 22,700 apartments. Absorption registered at 11,700 units in Austin and 6,200 units in San Antonio. Demand contributions totaled 1,300 units in Corpus Christi and 1,100 in Midland/Odessa. Another 2,200 apartments were absorbed across the combo of College Station, Lubbock, El Paso and the McAllen/Brownsville area.
