"Authorities in the Texas capital signed off on the most new construction in the country in an effort to keep up with soaring demand during the pandemic. Demand has now leveled off, but a lot of new apartments are still coming onto the market, so asking rents are falling."
"Almost everything in our lives costs more than it did two years ago—but rents have remained largely stable thanks to the construction boom, especially across the Sunbelt states. We are seeing rents tick up a little now that new construction is starting to slow down, but asking rents are likely to stay relatively flat for some time due to the backlog of new apartments that are still coming onto the market."
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