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North Texas multifamily permits show signs of slowing

​DALLAS-FORT WORTH-ARLINGTON – North Texas has led the country in apartment building for several years, but the market could be cooling.

U.S. Census Bureau data show new permits were down 10.8 percent for the year ending in November 2023 with 19,711 units permitted. Nationally, permits were down 21 percent year-over-year.

Austin was down 10.3 percent with 20,866 permits over the same period, and Houston was down 36.1 percent with 17,827 permits.

In its 2024 Texas Real Estate Forecast​, the Texas Real Estate Research Center projects statewide apartment deliveries will be 20 percent lower in 2024 than they were in 2023.​