Modest Demand Increase Offset by Addition of Multi-Family Product to Austin, TX Market

AUSTIN, TX— The addition of new supply will weigh on apartment fundamentals in Austin through the remainder of 2009, despite a modest increase in demand, according to a third-quarter Apartment Research Report by Marcus & Millichap, the nation’s largest real estate investment services firm.

As developers expand metrowide inventory by nearly 7 percent this year, owners are expected to significantly widen concessions to fill new projects.

“Investor interest in Austin is anticipated to follow tenant demand in the coming months,” says J. Michael Watson, (top left photo) regional manager of the Austin office of Marcus & Millichap

For a complete copy of the company's news release, please contact Stacey Corso, Communications Department, (925) 953-1716