Buy now? Houston ranks fifth in U.S. in real estate investment potential, moregrowth expected
The Emerging Trends in Real Estate 2013 report is out and Texas is on top for real estate investment potential, according to the 900 industry experts surveyed by PricewaterhouseCoopers and the Urban Land Institute.
Houston moved up to No. 5 on in this year's ranking of the top 20 markets to watch, up three spots from 2012 thanks to energy-related employment. The Bayou City saw massive job growth between 2007 and 2013, adding more than 300,000 jobs during that period.
"Houston is a winner," said one survey respondent, and although the rank for homebuilding prospects fell by one spot from last year's ranking, the industrial sector is ripe with buying opportunities.
The Bayou City saw massive job growth between 2007 and 2013, adding more than 300,000 jobs during that period.
Austin ranked No. 4 on the list, with further expansion of commercial real estate likely to follow an anticipated population increase next year.
Dallas/Fort Worth took No. 9, ranking only behind Houston in employment growth — by 2013, it will have added more than 230,000 jobs since 2007 — with one of the most diversified job bases.
Although San Antonio ranks only 19th for real estate potential, it took No. 5 for job growth over the past six years.