Houston, TX Multifamily Market Report | Colliers | Q4 2025

Market Overview

Houston's multifamily market closed Q4 2025 navigating elevated supply pressure while investment metrics pointed toward a turning point. The construction pipeline is slowing and fundamentals are stabilizing, with Colliers noting improving occupancy and strengthening investor sentiment as the quarter wrapped up. On the capital markets side, Q4 sales reached $1.1 billion, a 9.2% improvement year over year on a rolling four-quarter basis as interest rate concerns eased and bid/ask spreads narrowed. The average sales price per unit hit an all-time Houston high of $173,079, up 19.0% year over year, reflecting growing confidence in the market's long-term trajectory even as near-term supply absorption continues.

‍About Colliers

‍Colliers is a global real estate advisory and investment management firm serving owners, operators, and investors across major U.S. markets. Their Q4 2025 Houston multifamily report tracks occupancy, rents, absorption, deliveries, and capital markets activity to help owners, developers, and investors assess market conditions and timing. To read the full report, click here.