Over the past several years we have begun seeing more and more construction cranes around the city from all the multi-family development projects. This quarter San Antonio had more development break ground versus last, and it is apparent that there is no signs of it slowing down.
The percentage of Americans owning homes has taken a plunge to some of the lowest numbers seen in over 40 years. The effects of the dip in homeownership have rippled over to the rental industry as they have maintained high occupancy rates even with the influx of new development in the area.
Bottom line is that the preference for renting has kept developers busy filling a need in the rental market. San Antonio broke ground this quarter on 13% more units than its current construction projects. The submarkets you will notice are experiencing this development boom this quarter include the Far Northwest, Southwest, and Seguin sectors of San Antonio.
Multi-family development in San Antonio remains stronger than ever. With more and more apartment communities emerging all over the city it is even more important that you let an expert help you find your next home. Our licensed Apartment Locators are familiar with the city's apartment rental inventory and can help guide you through the process. Give us a call and let us help you find your next home!