• Effective rent growth fell to -0.22% across Houston partly because of the end of the Hurricane Harvey demand bump, and partly because of lingering supply from the previous building cycle
  • Lease-up properties offered an average of seven weeks free, close to the level of concessions offered during the 2015-16 energy downturn, and occupancy hovered at 89.8%
  • Houston had 18,697 units under construction during Q1 2019, nearly double the pipeline a year ago in Q1 2018
  • The local economy slowed in Q1 2019 but is forecasted to still grow modestly through the rest of the year, helped by manufacturing and IT