Dallas apartment brokers report that despite the 3.4% rental rate increase in 2013, apartment vacancies are at a 12-year low. While some may marvel at the amount of local apartment construction, Dallas apartment expert Will Balthrope thinks we’re actually under building based on historic construction levels and the 100,000 jobs added locally in the last year. He thinks there may be pockets of over building, but with overall under building in 2014, expect more rent rate increases in 2015. What is especially lacking is apartment construction in the suburbs. Sounds like we should expect to see the state bird of Texas more frequently – the construction crane!