Houston tops U.S. as most active real estate market within the last decade, new report finds
A new report has discovered Texas cities hold the top five most active real estate markets in the country, with Houston landing in the No. 1 spot. The study by storage marketplace StorageCafe reflects the city's resiliency over the last decade after a recent reported plummet in Houston's quality of life.
Houston had the greatest number of single-family home permits between 2013 and 2022, totaling 55,600 units. At the same time, the city also permitted nearly 90,000 new multi-family/apartment units. The massive influx of housing ultimately adds up to the most impressive national surge.
"Space City’s real estate market is firing on all cylinders, pushing it ahead of every other major city across the U.S. in terms of inventory expansions," the reports authors said. "Supported by consistent demand coming from the huge influx of newcomers, a diversifying economy and a very strong job market, both residential and commercial construction are thriving."
On the industrial end, Houston also took the top spot in the country for the most square feet of new industrial space construction. Nearly 66 million square feet was erected in the last decade, and 27 million constructed for new office space. This further solidifies Houston's standing as a top city for business.
Following Houston in the list of real estate growth is San Antonio (No. 2), with nearly 34,000 single-family homes permitted between 2013 and 2022, and over 38,500 multi-family units. Surprisingly, Austin only made it into No. 3, with vastly greater multi-family permits issued in comparison to single-family units: 98,764 versus 37,029.
The real estate markets in Fort Worth and Dallas respectively round out the top five.
The cities that complete the top 10 include:
- No. 6 – Phoenix, Arizona
- No. 7 – Jacksonville, Florida
- No. 8 – Las Vegas, Nevada
- No. 9 – Denver, Colorado
- No. 10 – Oklahoma City, Oklahoma