Even through economic hardships, there are areas that are able to prosper, areas that are an investor’s dream, areas where commercial real estate can be purchased and businesses can boom. Houston has been deemed one of the leading real estate markets to keep an eye on. According to the Urban Land Institutes, Houston has climbed from number eight to number five this year in the Emerging Real Estate 2013 report. It has become an investors dream, as it is one of the only large cities that does not have zoning distribution. In addition to this, there has been numerous energy companies that have boosted Houston’s economy.
Houston consists of a number of energy companies such as Exxon Mobil, BP, and Halliburton. With a low unemployment rate and strong energy industry, Houston has been moved to fifth best for commercial real estate in the country. Therefore, there is a massive demand for office and industrial growth in the market.
Exxon Mobil is expected to expand into the eastern part of the city, if this occurs then there is certain to be an even bigger boost in investment potential. This commercial growth also assisted in residential real estate growth, with housing prices on the rise and inventory levels at a five-year low. The inventory for properties for sale has not been as low as it currently is since March of 2007. As the energy industry continues to grow in Houston, the local economy will continue to grow as well. Ultimately, property value is expected to increase along with it.
As the country was experiencing an all time high in unemployment, foreclosures, and a variety of other economic catastrophes, Houston had to deal with its share of foreclosures and loss of overall property value. As with many cities, Houston was hard hit and is now on an uprising, with home values and property values climbing their way back up the ladder for a steady two years.
As the property becomes more and more valuable it is an excellent time for an investor with the capitol to sweep up property in Houston. Due to several energy firms continuing to make their way into Houston, the unemployment rate has steadily decreased and the real estate market has done a three-sixty. Not to mention, with such of an energy expansion taking place, the demand for office and industrial growth will continue to meet pace. Current progression proves endless opportunity in the Houston commercial real estate market.
Copyright © 2017 Bobek Realty Group, LLC. All rights reserved. XML Sitemap