TEXAS MARKETS STEADY – VARY BY REGION
HOUSTON – Despite the energy downturn, the resilient Houston residential real estate market managed to grow 2% over 2015, according to the Houston Association of Realtors. Single-family homes priced between $150,000 and $500,000 recorded positive sales volume while the luxury home segment experienced the biggest decline.
AUSTIN – An expanding population and strong economic fundamentals continue to support stable rental rates and new construction. The final quarter of 2015 featured a trifecta of positive indicators in the Austin industrial market including healthy leasing/sales activity, positive net absorption and improved occupancy according to Austin Business Journal.
FT. WORTH – More than half of the office space being built in North Texas has already been leased. The Dallas area is now second only to New York City in total office construction. More than 7.6 million square feet is being built in the area, according to a new report by JLL of Dallas Morning News.