Supply and Demand Re-do

Article: https://www.bizjournals.com/dallas/news/2018/04/02/study-dallas-rental-market-has-balanced-supply.html

Market: Dallas Rentals

Demand has been steadily increasing over the past years and supply has been increasing to match. As a result, rent has grown by 1.8 percent per year.

This increased demand has been a result of job growth. A textbook example of an increase of buyer’s income increasing the amount of people able to purchase a good, in this case, renting homes in Dallas. As this demand has been increasing, more rental housing has been built to keep the supply at the same pace. Because of the supply-demand ratios being kept much the same, price has hardly increased. Current rent rates for two-bedroom apartments are $1 100, which is less than the national average. Also, rent rates are increasing at a slower rate than the country’s average, Dallas being 1.8% and the national average being 2%.supplydemandgraph

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