velopment process but haven ’ t broken ground . Because it ’ s possible to postpone or cancel these projects based on market conditions , they aren ’ t as relevant in the short-term from a supply perspective . However , they can provide some insight into the general expectations for a market . With almost 16,000 units , 52 % of the units in the construction pipeline fall into this category .
Once again , some familiar names pop up near the top of the list for units in a pre-construction phase . There are almost 5,500 units that have yet to break ground in the Downtown – Riverwalk – King William submarket . In the Stone Oak – Sonterra submarket there are about 1,300 units , giving it second most . Future construction activity could be more dispersed than it currently is . As previously mentioned , 18 of the 25 San Antonio submarkets have units currently under construction , but that figure rises to
21 when looking at projects that have yet to break ground .
Takeaways
Projects have moved through the pipeline apace this year in Greater San Antonio , and new projects continue to be added to more than replace those that exit the pipeline . Apartment demand recovered in the third quarter , but not all the way back to Q3 2019 levels for San Antonio . Even so , as the traditionally softer fourth and first quarters approach , and with the continued uncertainty around COVID-19 , new supply is likely to remain an obstacle to rent growth in the near term . Fortunately for San Antonio , more than half the pipeline has yet to break ground . This allows much more flexibility moving forward based on changing conditions than in some other areas of the country .
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