On February 25, 2011, James G. Lenhardt, President of Hire Priority Staffing, joined Bruce McClenny, President of Apartment Data Services , and Stacy Hunt, Executive Director of Greystar Management Services, to discuss the latest economic news and trends shaping the Austin apartment industry. The event took place at the Four Seasons Hotel Austin and drew many key professionals from the local multifamily market. Below is a brief recap of Bruce McClenny’s insights on Austin’s apartment market.

McClenny explained that the economic challenges of 2009 held nearly every industry hostage, including Austin’s apartment market. He said 2010 marked a year of recovery, with apartment rental rates climbing 4.1%. McClenny attributed the increase to the lack of new apartment construction and the difficulty many buyers faced in securing home loans. “Because new apartment construction stalled and home loans were harder to get, renters stayed renting,” he said.

McClenny predicted that the 2011 Austin apartment market would see overall rent growth of nearly 8%. He connected this projected growth to the same limited supply conditions as 2010, along with a rebounding job market and a stronger Austin economy.

Hire Priority is a privately held staffing and recruiting company that actively connects apartment industry professionals with top opportunities. The company leads the way in filling Austin apartment jobs, Houston apartment jobs, and executive-level apartment positions. Visit us today at hirepriority.com.