Construction continues to Camden Downtown, a residential tower in downtown Houston near the Toyota Center, Tuesday, Jan. 22, 2019.
The number of Houston-area apartments permitted in the 12 months ended April 30 was up 200 percent over the previous year, elevating Houston to the No. 2 spot of top metros ranked for permit activity, new data shows.
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The boost in activity lifted Houston’s ranking one spot from the 12-month period ending in March. Houston displaced Dallas, which moved to the No. 3 spot. New York ranked No. 1.
The data illustrates the stark shift from several years ago when demand for apartments had sunk amid the oil bust and developers stopped building. Hurricane Harvey, however, reversed the market’s course as displaced residents rented thousands of apartments, encouraging new construction once again.