Greg Willett Provides Expert Commentary to Homes.com on Shifting Rental Dynamics in the Lone Star State
DALLAS—LeaseLock is proud to share that Chief Economist Greg Willett was recently featured as a primary expert in a comprehensive market report by Homes.com. The feature, which examines the cooling rental climate across the Texas “Big Four” metros, highlights Willett’s insights into how a massive influx of new inventory is impacting local rent growth and vacancy.
The Homes.com report identifies a pivotal shift for the Texas markets, where vacancy rates have climbed into the double digits in Austin, Dallas-Fort Worth, Houston, and San Antonio.
Homes.com Insight: The “One-Word Explanation” for Texas Vacancy
In his discussion with Homes.com, Willett emphasized that while the Texas economy remains robust, the rental market is currently working to absorb an unprecedented volume of new construction.
“The one-word explanation is supply,” Willett told Homes.com.
Willett provided the following data points to contextualize the current state of the market:
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Austin: Inventory growth has reached triple the national average over the last three years.
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Dallas–Fort Worth & San Antonio: Inventory growth has been nearly double the national average.
The result of this “supply wave,” as noted in the Homes.com coverage, is a surge in vacancy—reaching 15.8% in San Antonio and 13.5% in Austin. These figures have led to notable year-over-year rent slides, including a 4.7% decrease in Austin.
Why This Homes.com Feature Matters for Operators
The collaboration between Homes.com and LeaseLock’s economic team underscores the importance of data-driven decision-making in a softening market. As Greg Willett suggests, when supply outpaces demand, multifamily operators must pivot their strategies to focus on leasing velocity and resident quality to protect their Net Operating Income (NOI).
Willett’s regular contributions to major outlets like Homes.com ensure that LeaseLock clients and industry partners remain informed on the macroeconomic trends defining the future of rental housing.
About LeaseLock
LeaseLock Lease Insurance is the first and only program of its kind. LeaseLock eliminates deposits, creating greater access to housing for renters, while appropriately offsetting risk for properties. Renters prefer LeaseLock’s deposit waiver option, substantially reducing move-in costs. Unpaid balances can be recaptured through LeaseLock’s simple claims process, without damaging renter credit.
