Although All Major Texas Markets Posted Decreases In Average Occupancy In May, Occupancy Remains Above 90 In All Four, With Austin Recording The Highest At 93.02. The Lowest Occupancy Was Found In DallasFort Worth At 90.18.Austin Has The Highest Average Rent Per Square Foot As Well, At 0.931 Per Square Foot (psf); DallasFort Worth Posted The Second Highest At 0.868 Psf. The Strongest Monthly Absorption Was Found In San Antonio, Which Absorbed 243 Units In May. Posting The Weakest Absorption Figures In May Was The Houston Market, At -477 Units. Austin Apartment Market Occupancy Decreased 0.36 Points In May To 93.02, But Remains 1.64 Points Above Last Yearslevel. Average Rents, Currently At 0.931 Psf, Are 0.002 Psf Higher Than Last Month And 0.003 Psf Higher Than Last Year. Monthly Absorption Returned To Positive Territory, As 236 Units Were Absorbed, Bringing Annual Absorption To 3,709 Units.DallasFort Worth Apartment Market Occupancy Was Down 0.17 Points Over The Month. Currently At 90.18, Occupancy Is 1.46 Points Higher Than This Time Last Year. Average Rents Increased 0.001 Psf To 0.868 Psf, And Are 0.005 Psf Higher Than May 2005 Levels. The Market Absorbed 216 Units Over The Month; Annual Absorption Now Totals 13,468 Units.Houston Apartment Market Occupancy Fell 0.19 Points Over The Month To 90.57, But Has Gained 3.75 Points Since This Time Last Year. Rental Rates Gained 0.001 Psf In May And Are Up 0.026 Psf Over The Year. Absorption Over The Month Was -477 Units; However, Over-the-year Absorption Remains Well In The Black At 22,628 Units.San Antonio Occupancy Decreased 0.31 Points To 91.38, And Is Up 0.17 Points Over The Year. Rental Rates Posted A Decrease Of 0.002 Psf Over The Month, But Are Up 0.010 Psf Since May 2005. Absorption Was Positive For The Fourth Month In A Row, At 243 Units, While Annual Absorption Stands At 3,792 Units.
