In the nation's 100 largest metros, roughly 230,000 apartment units are scheduled for completion in 2015, about a 14 percent drop from the 13-year high that will be reached this year, according to MPF Research, the market intelligence division of RealPage, Inc.
Of course, the largest metros will be building the most units, with Houston coming in first with 19,662 expected completions in 2015. However, in terms of inventory growth rate, Houston falls to sixth place, at 3.2 percent.
Following Houston in sheer volume is Dallas, New York, Washington, D.C. and Seattle, all producing between an estimated 10,500 and 16,500 units next year.
In terms of inventory growth rates, Nashville, Tenn. tops the list as it looks to add 3.8 percent of its existing stock next year, followed by Charlotte, N.C. and San Antonio, Texas.
Top 10 New Construction Markets by Inventory Growth in 2015
1. Nashville, Tenn. / 3.8%
Completions: 4,327
2. Charlotte, N.C. / 3.6%
Completions: 4,837
3. San Antonio, Texas / 3.3%
Completions: 5,630
4. Dallas, Texas / 3.2%
Completions: 16,227
5. Denver-Boulder, Colo. / 3.2%
Completions: 8,698
6. Houston, Texas / 3.2%
Completions: 19,662
7. Seattle-Tacoma, Wash. / 3.1%
Completions: 10,572
8. Austin, Texas / 3.0%
Completions: 6,064
9. Salt Lake City, Utah / 2.9%
Completions: 2,431
10. Charleston, S.C. / 2.8%
Completions: 1,184
Top 10 New Construction Markets by Volume in 2015
1. Houston, Texas /
19,662
2. Dallas, Texas /
16,227
3. New York / 12,167
4. Washington, D.C. /
10,875
5. Seattle, Wash. /
10,572
6. Denver-Boulder, Colo.
/ 8,698
7. Phoenix, Ariz. /
8,248
8. Atlanta, Ga. /
7,441
9. Los Angeles, Cali.
/ 7,017
10. Boston, Mass. /
6,829
