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Sharp decline in D-FW apartment leasing raises red flag for developers

July, 28 2019

While North Texas apartment developers are ramping up construction to the highest level in decades, demand for new rental units has slipped. First quarter apartment leasing in the Dallas-Fort Worth area was at the lowest pace in three years. “If the second quarter is this weak, too, I’m going to be really concerned,” said Greg Willet, vice president with Dallas-area apartment analyst MPF Research. “For the first time since developers went back into expansion mode, we’re seeing some meaningful cracks begin to emerge.”…