North Texas apartment prices are on the rise as more people seek them.

However, reports said the wild and unprecedented race for real estate in north Texas is ending.

“Rents in the north Texas have increased 15% to 20% in some areas,” Julie Lynch, associate director of the Weitzman Institute of Real Estate at the University of Texas in Dallas, said to FOX 4 News.

The apartment price increase is unsurprising, as the area is experiencing population growth.

“Dallas has had the largest increase in population out of the whole country over the last decade, and so the demand for apartments and has been very strong,” Lynch said. “We’re at record occupancy levels at 96.5%”

In 2021, apartment rental prices in the DFW area went up 16%, averaging $1,400 a month for a one-bedroom apartment in the area, FOX 4 News reported.

A lot of new apartment complexes are being built in the area, but they cannot keep with the growth, the story added.

Home values increased up to 20% in 2021, CBS DFW reported.

Research economist Dr. Luis Torres said that various indicators show that the peak of the frenzy has been reached and the market should normalize, CBS DFW reported.