(Multifamily : Houston-Sugar Land-Baytown) 7/7/2009 
HOUSTON (globest.com) – Second quarter figures from MPF Research indicate area-wide multifamily occupancy was 89.7 percent, down slightly from March's total.

This also marks a 1.1-point drop in multifamily occupancy from June 2008.

Total inventory now stands at 510,700 units while 14,000 units remain in the pipeline.

Many large developers do not foresee bringing any new units into the market before 2012, according to Craig LaFollette with CB Richard Ellis' Houston office.

Despite the drop in occupancy, rents are remaining steady. Typical rent concessions have held at a 9 percent discount for some time now, according to MPF.

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