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Regional Summaries

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Houston, TX

Apartment
Houston’s apartment market reports a vacancy rate of just 5.6% as of mid-year 2015. With new supply numbers inching above demand, the vacancy rate had added back 20 basis points by the end of the year, returning to the 5.8% rate that also concluded 2014. At $960 and $899, asking and effective averages for the fourth quarter of 2015 were up 4.6% and 4.5% for the year. Respective gains for the latest quarter alone, with no sign of diminishing growth, were 1.3% and 1.2%. VIEW APARTMENT LISTINGS >
Industrial
Reis’s Houston warehouse/distribution space market, last counted at 218.2 million square feet, reports an 8.6% vacancy rate for the fourth quarter of 2015, up 10 basis points for the period alone but unchanged overall year-over-year. At $5.02 psf and $4.73 psf, mean asking and effective rates for the fourth quarter represented gains of 2.2% and 2.4% for the year, lowest since 2012. Growth rates for the fourth quarter alone were 0.8% and 0.6%. Vacancy in the 34.5-million-square-foot Houston area Flex/R&D market ended the year at 8.0%, down 30 basis points since the third quarter, down fully 160 since year-end 2014. A slowdown is indicated as well for the local Flex/R&D market. Reis put average fourth quarter asking and effective rates in this sector at $7.24 psf and $6.53 psf, up 2.0% and 2.2% for the year. Increases for the latest quarter alone in this segment were 0.7% and 0.6%. VIEW INDUSTRIAL LISTINGS >
Office
The Houston area general purpose, multi-tenant office market reports a fourth quarter 2015 vacancy rate of 15.6%, a loss of 10 basis points since the third quarter but a gain by fully 120 for the year. At $27.83 psf and $23.31 psf, respective mean asking and effective rents for the fourth quarter represented gains of just 2.3% each for the year. As a clear sign of the slowdown in detail, gains for the final quarter alone were 0.3% apiece (the same small rates of increase are reported for the third quarter). VIEW OFFICE LISTINGS >
Retail
Houston’s community-neighborhood shopping center space market reports an 11.0% vacancy rate for the fourth quarter of 2015, down 20 basis points for the period and down 60 for the year. At $17.45 psf and $15.05 psf, respective asking and effective averages for the fourth quarter represented gains of 2.6% and 2.8% year-to-date. Gains for the quarter alone were 0.7% and 0.8%. VIEW RETAIL LISTINGS >

Source: Data provided by Reis, inc.

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