Q3 2022 | Houston Multifamily Market Report

By: Colliers | Houston
HOUSTON - Nov. 4, 2022 - PRLog -- Key Takeaways
  • Occupancy dropped slightly over the quarter
  • Quarterly absorption decreased 78%
  • Average rents rose on a quarterly and annual basis
  • The quarterly median sales price and cap rate dropped

Houston Highlights

Demand for multifamily housing slowed between quarters recording 743 units of net absorption compared to 3,322 the previous quarter. The average monthly rent for multifamily units increased marginally over the quarter from $1,251 per month in Q2 2022 to $1,261 per month in Q3 2022. There are more than 17,500 units under construction and another 35,200 units are proposed. Occupancy remained fairly steady over the quarter decreasing by 20 basis points from 91.2% in Q2 2022 to 91.0% in Q3 2022.

Pricing & Sales Volume

After reaching a historical high in Q4 2021, Houston's multifamily investment sales volume dropped dramatically in 2022 from $8.6 billion to $2.3 billion in Q3 2022. Sales volume decreased 39% on an annual basis between Q3 2021 to Q3 2022 according to our data provider, Real Capital Analytics.

See the full article here: https://www.colliers.com/en/research/houston/q3-2022-hous...

Crystal Kingsbury
Email:***@colliers.com Email Verified
Tags:Multifamily Market Report
Industry:Real Estate
Location:Houston - Texas - United States
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