Dallas is the Nation’s Most Active Construction Market
Dallas is no stranger to big volumes of new apartment supply, but the hits just keep on coming in this market. The Big D led the nation in the past year for volume of new apartment deliveries, with over 17,000 new units delivered, according to data from RealPage Market Analytics. While that was a bit ahead of the decade average for Dallas, recent volumes are actually down a bit from what has been the norm for this market in the past five years. Looking forward, Dallas is also the national leader for ongoing construction activity, with over 43,000 units currently under development. Annual deliveries are expected to continue to increase in Dallas, peaking in early 2024, when annual completions should get as high as 24,400 units. Even with all this new supply, Dallas tends to absorb it very quickly. As of June, occupancy was at 95.6%, a bit behind the national average but still ahead of historical norms for the market.