Sizable Supply Volumes in Desert/Mountains Region

The Desert/Mountains region accounted for nearly 14% of apartment deliveries across the U.S. in the past year, with the addition of nearly 78,000 units. That was the second-biggest completion volume nationwide, just behind Texas, where over 100,000 units delivered, about 18% of the national total. Florida also saw big numbers, with around 70,000 units completed in the past year, while the Midwest was close with about 67,000 units wrapped up. Inventory growth in the Desert/Mountains region was also sizable in the year-ending 2nd quarter, with a 4.5% increase. That measure ranked the region second nationwide, coming in just behind the 4.9% growth pace in the Carolinas. Growth was at 3.8% in both Texas and Florida.

For more information on the state of small apartment markets across the Desert/Mountains region, including forecasts, watch the webcast Market Intelligence: Q3 Desert/Mountains Update.