Healthy job growth spurs robust household formation in the Metroplex. Employment gains of nearly 3.0 percent or more since 2012 have boosted housing demand for both single-family and multifamily dwellings in the market. Single-family permitting issuance of nearly 31,500 residences far exceeds multifamily permits pulled over the past year. Despite this, single-family housing supply remains tight, pushing up home prices and keeping many would-be owners in apartments. Strong rental demand and absorption across the Metroplex has encouraged apartment development. The pace of apartment completions will reach a peak this year as builders are set to bring more units online in Dallas/Fort Worth than nearly every other major metro in the country. It is surpassed only by New York City.

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