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AVAILABLE HOUSTON HOUSING VANISHING
HOUSTON TEXAS (chron.com) – Available housing in the Houston area is flying off the market as Hurricane Katrina evacuees attempt to rebuild their lives. Before Katrina hit,
86% of Houston’s 485,000 apartments were occupied, according to the president of the Houston-based Apartment Data Services. As apartments fill throughout the city, McClenny predicts the occupancy rate could reach 92 to 94% by the end of September, the city’s highest level since September 2001, when it was 92.5 %.
Many evacuees are starting over in single-family homes throughout the city. From Sept. 2 through Sept. 14, 2005, 815 leases were signed for single family homes, townhouses, condominiums and high-rises, according to the Houston Association of Realtors. During the same time period in 2004, 592 homes were leased.
KATRINA’S IMPACT SHOWN IN APARTMENT STATS
HOUSTON Survivors of Hurricane Katrina who landed in Houston TX had a dramatic impact on the city’s multifamily market with10 times the normal absorption rates and surging occupancy levels.
In third quarter of 2005, more than 20,000 apartment units were absorbed compared with about 25,300 absorbed in the last 12 months. For the first time in 7 quarters, occupancy rose to a little more than 90% Rents were up slightly to just over 80 cents per sq ft
A large number of jobs were added to the economy as school districts hired an additional 1,700 employees compared with the prior Sept 2004 Government as a whole added approx. 18,500 jobs.
(O’Connor & Associates)
Apartments, condo or townhome or apartment locator in Houston, The Woodlands, Bellaire, Aldine TX: Houstonapartment leasing agents provide personalized service. If you're searching for Houston apartments,lofts, condos or townhomes - anywhere in the Houston metroplex area
