NewsTalk Texas

Texas

Got treasure, junk? $75M self-storage developments in Texas 

(9/1/2015)

DALLAS, HOUSTON, SAN ANTONIO - Cornerstone RPC Storage Development has launched phase one of a $75 million self-storage development plan throughout the state. The first phase includes the construction of four facilities in the Dallas, Houston and San Antonio markets.

Dallas:
The first project at 9485 LBJ Fwy. is underway with 94,475 sf in 656 drive-up units.

Houston:
A 116,400-sf facility at 1200 Park Row Dr. will offer 832 units and 80 parking spaces and is within weeks of breaking ground.

San Antonio:
Two San Antonio properties were purchased with the intention of developing more than 200,000 sf of self-storage.

The property at 9652 Huebner Rd. will comprise 103,575 sf in 731 units.

The 98,625-sf asset at 7413 N. Loop 1640 W. will contain 693 units. The majority of units at both facilities will be climate-controlled.

Read more on Inside Self Storage.

Hotel occupancy 2Q 2015: seven metros rank above Texas 

(8/28/2015 11:00:00 AM)

TEXAS - In second quarter 2015, seven areas exceeded the state hotel occupancy average. Meanwhile, 17 of 27 Texas areas showed decreased occupancy compared to 2014, according to Source Strategies Inc.

The table below is sorted by 2Q 2015 occupancy. Click the full report which shows the negative effect of decreased oil and gas exploration and production activity.

In all oil and gas counties statewide, 2Q 2015 occupancy averaged 64.6 percent, down 4.6 points from 2Q 2014:

Top Metros Ranked by Occupancy 2Q 2015
  2014 Total 2Q 2015
Metro Area Occ.
%
Rev
% Chg
Occ.
%
Pt.
Chg
$ Rev
% Chg
Austin-Round Rock 73.8 10.4% 78.3 2.6 18.1%
Dallas-Plano-Irving MD 68.5 8.4% 72.9 1.0 7.6%
El Paso 65.7 8.7% 71.6 4.5 12.7%
Waco 66.4 12.2% 70.3 2.7 10.9%
Lubbock 67.2 6.9% 69.9 -2.6 2.4%
Amarillo 63.2 3.7% 68.7 4.3 11.2%
Houston-The Woodlands-
Sugar Land
68.7 10.8% 68.2 -3.7 -1.0%
State average 65.7 9.7% 66.2 -1.8 2.5%


See the full report at Source Strategies Inc. 

For more stats on cities, counties and MSAs, see Hotel under Market Research.

Midland posts lowest jobless rate in Texas, others follow 

(8/24/2015 7:05:00 AM)

MIDLAND - Midland’s labor market showed some unexpected strength in July, according to figures released by the Texas Workforce Commission.

An increase in the Midland metropolitan statistical area’s civilian labor force combined with an increase in the number of employed residents to send the unemployment rate inching down to 3.3 percent from 3.4 percent in June.

Midland was the only MSA to report a decline in its unemployment rate. The decrease was enough to allow Midland to again report the state’s lowest unemployment, just ahead of Amarillo with 3.4 percent and Austin-Round Rock San Marcos with 3.5 percent.

Preliminary numbers for July with June numbers in parentheses:

  • Midland 3.3 (3.4)
  • Amarillo 3.4 (3.2)
  • Austin-Round Rock 3.5 (3.3)
  • Lubbock 3.8 (3.7)
  • San Antonio-New Braunfels 3.9 (3.8)
  • Abilene 4.0 (4.0)
  • College Station-Bryan 4.0 (3.9)
  • Dallas-Plano-Irving 4.1 (4.0)
  • Sherman-Denison 4.2 (4.0)
  • Fort Worth-Arlington 4.3 (4.1)
  • San Angelo 4.3 (4.3)
  • Victoria 4.3 (4.2)
  • Odessa 4.5 (4.4)
  • Waco 4.5 (4.3)
  • Wichita Falls 4.6 (4.4)
  • Houston-The Woodlands-Sugar Land 4.7 (4.5)
  • Tyler 4.8 (4.5)
  • Killeen-Temple 4.9 (4.7)
  • Laredo 5.0 (5.0)
  • Corpus Christi 5.1 (5.0)
  • Longview 5.1 (4.9)
  • Texarkana 5.4 (5.2)
  • El Paso 5.5 (5.3)
  • Beaumont-Port Arthur 6.6 (6.3)
  • Brownsville-Harlingen 7.1 (7.0)
  • McAllen-Edinburg-Mission 8.1 (7.8)


See Midland again posts lowest jobless rate in Texas.

Also see the Texas Workforce Commission's August 2015 Labor Review or see a one-page snapshot of an area's economy.

CBRE: Texas industrial marketflash through 2Q 

(8/12/2015 9:00:00 AM)

TEXAS - According to CBRE’s Texas Industrial MarketFlash report, Texas is in the middle of an industrial market boom. Across the state, new projects continue to break ground as a result of overall occupancy rates hitting the high 90s.

Through second quarter 2015, the real estate firm analyzed 158 projects under construction in primary markets such as Dallas and Houston, as well as secondary and tertiary markets like San Antonio, Austin, McAllen and El Paso.

Those projects totaled 26.5 million sf, 36 percent of which is preleased.

Texas has one of the largest industrial market’s in the country — weighing in at 1.4 billion sf — with warehouse and distribution product dominating the existing, and future inventory which is being driven by the state’s position as a major distribution hub.

Texas Industrial Statistics in SF
  Under
Construction
Preleased Total Not
Preleased
Dallas 13,941,133 5,029,041 8,912,092
Houston 10,207,863 5,702,177 4,505,686
San Antonio 671,939 - 671,939
Austin 487,859 115,409 372,450
McAllen 274,000 178,000 96,000
El Paso 126,456 126,456 -
Texas 25,709,250 11,151,083 14,558,167


Source: CBRE

Click to see CBRE's Texas Industrial Marketflash (PDF). Check out San Antonio industrial stacks up 'names' in Texas metros.

Texas wants its gold back inside its state's borders 

(7/16/2015 6:50:00 AM)

TEXAS - Forget Fort Knox or the Federal Reserve, Texas has decided to start keeping its shiny bullion or gold holdings within in its own borders.

Texas is the only state that owns an actual stockpile of gold, according to public sector and financial industry experts — not just gold futures or investment positions, but approximately 5,600 gold bars worth around $650 million.

The Legislature's decision this summer to bring its gold cache home was hailed by both sides of the aisle who are suspicious of national government.

But for the Texas comptroller's office, which has to implement the policy, the catch is that the new Texas Bullion Depository exists in name but not reality.

The law does not say where the depository would be or how it should be built or secured. No funding was provided for those purposes or for leasing space elsewhere.

After the bill sailed through the Legislature, Gov. Greg Abbott signed it and tweeted: "California may be the golden state, but Texans deserve to keep their gold in-state!"

Texas' state-owned gold is held by the University of Texas Investment Management Company, the nation's second largest academic endowment behind Harvard.

It began gradually amassing gold futures in 2009 as a hedge against currency weakness in the recession. It eventually transitioned to physical bullion, and by 2011 had $1 billion worth.

It is unclear whether repatriating it could be done with an electronic transfer or would require a fleet of planes or armored cars.

Read more at AP News.

ALN: Amarillo, College Station, Corpus, Lubbock plus... 

(7/14/2015 9:00:00 AM)

AMARILLO, COLLEGE STATION, CORPUS CHRISTI, EL PASO, MIDLAND-ODESSA - ALN Apartment Data released the June 2015 review of occupancy, effective rent and more for Amarillo, Lubbock, College Station and El Paso.

General Overview June 2015
Markets Amarillo College
Station
Corpus
Christi
El Paso Lubbock Midland-
Odessa
Occupancy 90.9 94.6 91.5 91.4 92.0 86.2
Units added 0 180 737 301 108 398
Units absorbed (annual) 609 563 1,111 -985 353 -623
Average size (SF) 822 838 854 833 847 867
Asking rent $700 $826 $928 $750 $718 $1,198
Effective rent $688 $822 $921 $747 $715 $1,189
Effective rent per SF $0.84 $0.98 $1.08 $0.90 $0.84 $1.37
Offering concessions 30% 9% 19% 14% 16% 14%
Avg. concession package 5.7% 4.5% 4.0% 4.1% 3.4% 4.9%


Click ALN Apartment data covering Texas and other states. Easy data here with one click.

Source:  ALN

Texas tops U.S. commercial real estate market  

(7/14/2015 7:59:00 AM)

TEXAS - Last year was the best time for commercial real estate in seven years, according to the July 2015 The Economic Impacts of Commercial Real Estate by NAIOP —  the Commercial Real Estate Development Association.

In addition, Texas was the top commercial property market in the country according ,

Texas by far had the largest direct commercial real estate expenditures last year — almost $42 billion. And more than 776,000 of the state’s jobs were derived in part or all from commercial real estate. 

The industry group said that commercial real estate’s contribution to the national economy rose by 40 percent in 2014 from the previous year.

Commercial property direct expenditures for 2014 added up to $174.31 billion — the greatest volume since before the recession.

Moreover, the industry supported almost 4 million jobs nationwide.

Top Ten States by Development Value for Office, Industrial, Warehouse, Retail
State 2014 Direct
Expenditures
(in billions)
Jobs
Supported
Texas $41.981 776,128
California $13.369 218,142
New York $10.512 132,535
Louisiana $6.401 106,916
Nevada $6.032 90,529
Pennsylvania $6.004 103,710
Florida $5.850 113,558
Washington $5.057 79,848
Illinois $4.925 81,658
Ohio $4.022 75,968


Read more at the Dallas Morning News.

ALN: College Station, Longview/Tyler, Waco/Temple/Killeen 

(7/14/2015)

COLLEGE STATION, LONGVIEW/TYLER, WACO/TEMPLE/KILLEEN - ALN Apartment Data has released June 2015 apartment occupancy and effective rent data and more for apartments.

General Overview June 2015
Markets College
Station
Longview/
Tyler
Waco/
Temple/
Killeen
Occupancy rate 94.6 89.4 90.7
Units added 180 226 0
Units absorbed (annual) 563 -385 -329
Average size (SF) 838 854 816
Asking rent $826 $769 $730
Asking rent per SF  $0.99 $0.90 $0.89
Effective rent $822 $768 $723
Effective rent per SF $0.98 $0.90 $0.89
Offering concessions 9% 4% 18%
Avg. concession package 4.5% 3.9% 5.2%


Click ALN Apartment data covering Texas and other states. Easy data here with one click.

Source: ALN

Texas dominates the market for real estate investing 

(7/7/2015 11:00:00 AM)

TEXAS - Major markets in Texas dominated HomeVestors and Local Market Monitor’s list of top ten markets in the country for real estate investing.

Dallas, Houston and Austin ranked second, third and fourth, respectively, while San Antonio ranked seventh in the nation for real estate investing.

Some of the criteria HomeVestors and Local Market Monitor used to compile the top ten list included markets where the population growth is 4 percent or better; job growth is 2 percent or better; and markets that have relatively low unemployment. Small markets were excluded.

The top ten markets are as follows:

  1. Denver
  2. Dallas
  3. Houston
  4. Austin
  5. Seattle
  6. Orlando
  7. San Antonio
  8. Charleston, SC
  9. Nashville
  10. Raleigh, NC 

See all the story at HousingWire.com and the San Antonio Business Journal.

Where does your city fall? Texas employment stats 

(7/3/2015 7:00:00 AM)

TEXAS - The U.S. Bureau of Labor Statistics has released a report on employees on nonfarm payrolls by state and metropolitan area.

Below is a table with the Texas metropolitan areas ranked by largest percent change in employees from May 2014 to May 2015.

Texas metro areas ranked by change in employees* on nonfarm payrolls
Seletected Areas April May  % Chg.
  2014 2015 2014 2015 May
2014-2015
Odessa 76.9 81.7 77.1 81.8 6.1
Midland 93.3 99 93.8 99.4 6
Beaumont-Port Arthur 163.6 170.3 165.3 172 4.1
Austin-Round Rock 911.6 940.6 915.2 947.4 3.5
Dallas-Fort Worth-
Arlington
3,244.70 3,369.10 3,265.40 3,375.90 3.4
San Antonio-
New Braunfels
943.4 973.2 949.2 978.2 3.1
Laredo 97.9 100.2 98 100.6 2.7
Longview 102 105.4 102.4 105.2 2.7
Victoria 44.2 45.6 44.6 45.8 2.7
McAllen-Edinburg-
Mission
242.3 246.8 243.9 250.3 2.6
San Angelo 47.8 49.1 48.1 49.3 2.5
Corpus Christi 192.8 198.9 194.3 198.9 2.4
Houston-The
Woodlands-Sugar Land
2,903.60 2,971.60 2,923.00 2,985.30 2.1
All Texas Metros 11,480.50 11,785.60 11,544.80 11,831.80 2.5


*In thousands

Source: Bureau of Labor Statistics

Texas ranks first in U.S. ports of entry 

(6/30/2015 7:15:00 AM)

TEXAS - Texas Wide Open for Business has released the 2015 U.S. Ports of Entry in Texas report.

Ports of Entry are officially designated areas at U.S. land borders, seaports, and airports which are approved by U.S. Customs and Border Protection (CBP).

There are 328 official ports of entry in the U.S. and 13 pre-clearance offices in Canada and the Caribbean.

Texas currently has 29 official U.S. ports of entry, more than any other state, according to the CBP website.

At Ports, CBP officers or Port employees accept entries of merchandise, clear passengers, collect duties, enforce the import and export laws and regulations of the U.S. federal government, and conduct immigration policy and programs.

Ports also perform agriculture inspections to protect the nation from potential carriers of animal and plant pests or diseases that could cause serious damage to the nation's crops, livestock, pets, and the environment.

See Texas Ports of Entry 2015 for the full list and report. Also see Texas Port of Entry 2015 under Infrastructure under Market Research data.

NAR Texas cities housing market 1Q 2015 

(6/23/2015 10:45:00 AM)

TEXAS - First quarter 2015 housing data have been released by the National Association of Realtors (NAR).

The reports contain median home prices, affordability index, equity appreciation, employment by industry and local housing permits.

Click the cities below for the full report. All these cities are also found under Market Research.

Abilene Beaumont El Paso
Amarillo Corpus Christi Houston
Austin Dallas San Antonio


Source: National Association of Realtors, courtesy of Prudential Ada Realtors.

More Housing data? Visit Market Research.

BUILDER ranks top ten cities for home building 

(6/15/2015 8:12:00 AM)

TEXAS METROS - BUILDER is taking a 50-city tour* of the largest housing markets, evaluating vital housing stats, employment information, and population numbers to find out what’s good, what’s bad, and what's the bottom line for housing going forward.

So far in their city visits, the cities below stand out for home building:

Top Ten U.S. Markets for Home Building
Market New-home
closings
Population
Houston-The Woodlands
-Sugar Land
26,192 6,490,180
Dallas-Fort Worth-Arlington 19,719 6,954,330
Atlanta-Sandy Springs
-Roswell, Georgia
12,161 5,614,323
Washington-Arlington-
Alexandria, D.C.-Virginia
-Maryland-West Virginia
11,035 6,033,737
Austin-Round Rock 9,724 1,943,299
Phoenix-Mesa-
Scottsdale, Arizona
9,687 4,489,109
Miami-Fort Lauderdale
-West Palm Beach, Florida
9,210 5,929,819
Charlotte-Concord-Gastonia,
North Carolina, South Carolina
8,233 2,380,314
San Antonio-New Braunfels 8,005 2,328,652
Orlando-Kissimmee
-Sanford, Florida
7,705 2,321,418


*BUILDER has completed 30 of its 50-city tour at this time.

Read more at Builder Online.

tag: Texas Market Research, NewsTalk Texas

Is Texas America's best state economy? 

(6/15/2015)

TEXAS - Everything is bigger in Texas, including economic growth.

Texas was America's second fastest growing economy last year, according to the new data from the Commerce Department. The state grew by a stellar 5.2 percent, behind only North Dakota.

Some argue Texas is the nation's best state economy given its size and low unemployment.

What's driving all this growth? Mining and manufacturing. Texas is producing textiles, food and more these days. Real estate and tech picked up the pace too.

But mining was the leading cause for growth in the Southwest region last year, especially in Texas and Oklahoma.

The concern is whether Texas can stay strong in 2015. JP Morgan's Chief U.S. Economist Michael Feroli says the state could even fall into recession if oil prices remain so low.

The Texas recipe: Still, three of the top five fastest growing U.S. cities — Houston, Austin and San Antonio — are in Texas.

The Texas growth story is deeper than just oil and mining. Many Americans are gravitating to the nation's second-largest state because it offers cheap housing in close proximity to cities as well as ample job opportunities.

Sources: CNNMoney, Multi-Housing News

CBRE Texas office: Big four metros 1Q 2015 

(6/11/2015 9:00:00 AM)

TEXAS - The Texas office market closed out first quarter 2015 with mixed signals in terms of overall fundamentals, yet continued to add jobs despite sustained lows in oil prices.

The state continues to experience healthy employment growth and is a vital component of the nation's growth, as the state accounted for nearly one-fifth of the country's payroll gains over the last year and is home to 52 Fortune 500 headquarters.

The state unemployment rate dropped from the previous quarter, at 4.3 percent in February 2015 and is down from 5.7 percent in February 2014.

Total net absorption for 1Q 2015 yielded approximately 2.7 million sf, slightly higher than the amount of net absorption posted in 4Q 2014 among the four major Texas office markets.

Texas Office Market Statistics 1Q 2015
Market Rentable
Area
(SF)
Total
Availability
(SF)
Vacancy
Rate
Net Abs.
(SF)
Under
Const.
(SF)
Asking
Rate
(SF)
Austin 43,665,210 6,533,950 11.5 442,682 288,552 $31.66
DFW 218,268,879 51,810,944 18.3 1,216,398 6,340,914 $20.70
Houston 201,947,638 30,520,137 12.6 577,700 15,894,915 $27.17
San Antonio 27,343,961 5,465,913 15.5 426,409 746,977 $20.67


See CBRE's full report Texas Office: Big Four Metros 1Q 2015 (PDF).

Source: CBRE

More data sorted by Texas MSAs? Visit Market Research.

Texas, U.S. median rent? Zumper thumps out numbers 

(6/11/2015 7:30:00 AM)

TEXAS, U.S. - Zumper has released the June 2015 Rent Report. This multifamily report contains median rent across the 50 largest U.S. cities.

Median Rent Across U.S.*
Rank** City Price Q-O-Q
Chg.
Price Q-O-Q
Chg.
  One-bedroom Two-bedroom
18 Baltimore, MD $1,100 0.0% $1,480 5.7%
19 Austin, TX $1,090 5.8% $1,410 2.9%
20 Dallas, TX $1,060 -7.8% $1,475 -4.8%
21 Charlotte, NC $1,000 7.5% $1,130 2.7%
22 Houston, TX $990 -9.2% $1,230 -6.1%
29 San Antonio, TX $810 1.3% $1,040 4.0%
30 Louisville, KY $780 -3.7% $900 -5.3%
31 Fort Worth, TX $750 -3.8% $940 1.1%
40 Colorado Springs, CO $660 -2.9% $900 0.0%
41 Arlington, TX $650 0.0% $830 -2.4%
42 Memphis, TN $640 -1.5% $680 0.0%
43 El Paso, TX $630 0.0% $800 0.0%


*Median rents for all homes available or vacant in May 2015.
**Ranking based on median price of a one-bedroom unit

Source: Zumper

Want all 50 cities? See June 2015 Median Rent Across 50 Largest U.S. Cities (PDF)

tag: Texas cities NewsTalk multifamily

School's out; open season at Texas water parks 

(6/5/2015 9:30:00 AM)

TEXAS - School's out for the summer, and you know what that means: it's open season at water parks across the Lone Star State.

With a total of 33 operating water parks, you can bet Texas is the state to boast the most square feet dedicated to wave pools, splash islands, lazy rivers and wedgie-inducing water slides.

Be sure and check out the gallery of 21 Texas parks with the most waterslides, ranging from six to 22. With some slides reaching up to 95 feet, we also have some of the craziest, most fear-inucing slides in the country — just down the interstate.

Here's a few:

  • CantonSPLASH KINGDOM
    Total water attractions: 14
    Water slides: 7
    Admission: $15 to $24
     
  • Corpus ChristiHURRICANE ALLEY WATERPARK
    Total water attractions: 9
    Water slides: 4
    Tallest slide: 65 feet
    Admission: $15 or $20
     
  • Garland: HAWAIIAN FALLS
    Total water attractions: 18
    Water slides: 14
    Tallest slide: 65 feet
    Admission: $20 to $27
     
  • New BraunfelsSCHLITTERBAHN NEW BRAUNFELS
    Total water attractions: 10
    Water slides: 6
    Tallest slide: 35 feet
    Admission: $50 or $60
     
  • SheridanSPLASHWAY FAMILY WATERPARK
    Total water attractions: 13
    Water slides: 9
    Tallest slide: 95 feet
    Admission: $6 to $28
     
  • SpringWET-N-WILD SPLASHTOWN
    Total water attractions: 16
    Water slides: 6
    Tallest slide: 95 feet
    Admission: $31 to $40
     
  • Wichita FallsCASTAWAY COVE WATERPARK
    Total water attractions: 21
    Water slides: 14
    Admission: $15 to $23


Be sure and see all water attractions from all over Texas.

Texas named one of best states for business 

(6/4/2015)

TEXAS - After billions of dollars in new development projects in 2014, Texas was named one of the best states for garnering big company investments and creating jobs.

Texas received Area Development Magazine’s 2015 Gold Shovel Award for states with populations over 12 million.

The magazine cited Texas’ declining unemployment rate and diverse economy, which includes manufacturing, health care and technology.

More about this story at the Austin Business Journal.

To see the rest of the standings visit Area Development.

Also, visit Texas Workforce Commission for more information.

Texas puts aside $30M for military bases  

(6/1/2015)

TEXAS - State lawmakers plan to set aside $30 million in Texas’ two-year budget to help military installations and communities survive possible federally ordered base closures.

The money would come as a grant through the governor’s Texas Military Preparedness Commission and would go toward base improvements that could put bases in better position in the event of a round of Base Realignment and Closure or BRAC.

Read more about this story at Abilene Reporter-News.

Texas housing market continues to hold up 

(5/29/2015 8:55:00 AM)

TEXAS - Year-over-year home sales were up 5 percent in April and the median price of a home was up 9 percent.

“The impact of the decline in oil prices on Texas housing markets as a whole has not been as great as feared so far,” said research economist Dr. Jim Gaines of the Real Estate Center at Texas A&M University.

Home prices will continue to rise as long as demand stays high and inventory remains low, Texans should expect home price increases to continue.

Months of inventory was 2.9 months in April in Houston, which is higher than the same month last year.

Texas MLS Home Sales Apr. 2015
  12 Months
Ending
Apr. 2014
12 Months
Ending
  Apr. 2015
Chg.
Homes sales 24,585 25,906 5.4%
Median sales price $179,900 $196,200 9.1%
Months inventory* 3.5 3.3 -5.7%


*Six (6) months of inventory is considered a balanced market.

Read more at Houston Chronicle.

CBRE 1Q 2015 Texas Industrial Marketview 

(5/26/2015 6:56:00 AM)

TEXAS - CBRE has released its first quarter 2015 Industrial Marketview for Texas metros.

Austin: Net absorption presses higher for a third straight quarter and comes in at 158,274 sf and total vacancy decreases to 10.5 percent. Despite low vacancy and healthy demand, there has been relatively little movement in industrial construction.

Dallas-Fort Worth: 1Q 2015 has been another strong quarter overall for the Dallas-Fort Worth industrial market.

With positive net absorption for the 18th consecutive quarter at 6.0 million sf, DFW continues to outperform much of the nation. 1Q 2015 saw DFW’s total vacancy rate rise 40 basis points to 7.3 percent.

El Paso: The active El Paso industrial market began the year with positive net absorption the first time since 2011. The overall industrial vacancy rate continued to decline to 11.8 percent.

This emphasizes the optimistic momentum of the local market. The vacancy rate for competitive, Class A space under 100,000 sf remained as the most “tight” segment at 2.6 percent.

Houston: Houston’s average industrial vacancy rate dropped 10 basis points from 5.0 percent as of 4Q 2014 to 4.9 percent, 1Q 2015 and 2 million sf of inventory was absorbed.

Amidst concerns regarding the energy industry, new local distribution or more specialized, crane-served type industrial leases are taking place.

McAllen: 1Q 2015 marked a sixth consecutive quarter of positive net absorption for the McAllen industrial market. Continued progressive activity decreased the market vacancy rate by 80 basis points year-over-year to 10.7 percent.

San Antonio: 1Q 2015 saw the highest levels of positive absorption for a first quarter since 2008, which also marks the 16th straight quarter where absorption was positive. This caused vacancy to fall 10 basis points quarter-over-quarter to 7.6 percent.

See CBRE Texas Industrial Marketview 1Q 2015.

This report is also under Market Research for each city.

NAR: Texas' median home prices jump in 1Q 2015 

(5/19/2015 7:45:00 AM)

TEXAS - Home prices were higher in all but 25 of the 170 U.S. home markets in first quarter 2015 when compared with 1Q 2014, according to the National Association of Realtors (NAR).

Austin and Dallas-Fort Worth were among 51 U.S. markets that saw double-digit home price gains. Austin home prices increased by 10.2 percent in 1Q 2015, while DFW jumped 10.1 percent.

The largest price increase in the country was in the Sherman-Denison area just north of Dallas, where median home prices in the Grayson County area were up 33.4 percent.

Nationwide prices rose 7.4 percent in 1Q 2015.

Preowned Home Price Changes 1Q 2015
Market Med. price
1Q 2015
Chg.
Y-O-Y
U.S. Median $205,200 7.4%
Biggest increases
Sherman-Denison, Tex. $123,400 33.4%
Port St. Lucie, Fla. $172,000 22.9%
South Bend, Ind. $102,100 19.1%
Largest declines
Cumberland, Md. $71,600 -12%
Pittsfield, Mass. $178,300 -11.7%
Elmira, N.Y. $102,300 -11.4%
Texas cities
Austin $249,100 10.2%
Dallas-Fort Worth $192,500 10.1%
Houston $200,300 8.5%
San Antonio $184,500 9.1%


Source: National Association of Realtors

Read more at the Dallas Morning News. Also, check out NewsTalk Housing.

ABJ: Texas Relative Economic Community Health Index 2015 

(5/11/2015)

TEXAS - The Austin Business Journal has released the Texas Relative Economic Community Health Index (TRECH), which ranks the 254 Texas counties based on an analysis of socio-economic benchmarks.

The TRECH survey is based on the following measurements:

•  Total estimated 2013 population; estimated population change between 2010 and 2013
•  Estimated 2013 annual median household income
•  Estimated annual median household income change between 2010 and 2013
•  Estimated percentage of population paying more than 30 percent of monthly income to housing costs in 2013
•  The change in the estimated percentage of population paying more than 30 percent of monthly income to housing costs between 2010 and 2013.

Counties that landed in the top 25 percent of the TRECH Index had populations that were, on average, 60 percent larger in 2013 than the statewide county average. They also grew 53 percent faster than the statewide per-county average between 2010 and 2013, and had estimated median incomes 17.8 percent higher than the statewide per-county average.

Topping it off, they also shrank their percentage of residents who pay more than 30 percent or more of their income on housing by 2.9 percent.

Andrews County took the number one ranking on the index, while Menard County was 254th.

Read more and find out how your county fared in the interactive TRECH Index at the Austin Business Journal.

TAR: 2015 Texas Remodel Valuation Report 

(5/8/2015 9:30:00 AM)

TEXAS - The Texas Association of Realtors has released the 2015 edition of its Texas Remodel Valuation Report.

The report is based on data from the 2015 Cost vs. Value Report by the National Association of Realtors and Remodeling magazine.

The most profitable remodeling projects:

  • those that boosted a home’s curb appeal.
  • Steel entry door and garage door replacements ranked among the top five projects in most markets, recouping up to 113.2 percent and 107.6 percent of recoup costs, respectively.
  • Backup power generators — the most profitable project in the 2014 report — remained a top project in only two markets yet still recouped up to 129.2 percent of project costs.


Projects that maximized a home’s existing sf and sustainability continued to be popular in 2014, but less so than in 2013.

Basement remodels recouped up to 98 percent of project costs, but attic bedroom additions — popular in 2013 — were no longer a top project. 

Unprofitable projects included sunroom additions, home office remodels and master suite additions, according to the report.

Read more at the Texas Association of Realtors.

ALN small town apartment review 1Q 2015 

(5/8/2015 8:00:00 AM)

ABILENE, AMARILLO, CORPUS CHRISTI, LUBBOCK - Here’s a look at the first quarter 2015 numbers for the markets that ALN tracks concerning occupancy and rents.

Abilene saw average occupancy drop 1.9 percent in the quarter with a net loss of 188 units.

Effective rents grew a meager $4 per unit to $690 per unit. Compared to last year, however, rents are up a robust 7.4 percent.

Amarillo Absorption in Amarillo is slowly inching up. The market absorbed 36 units in the quarter and 235 over the last 12 months. That led occupancy to grow 0.3 percent in the quarter but represents a drop of 0.5 percent from this time last year due to new supply.

Effective rent, at an average of $672 per unit is up a healthy 1.1 percent in the quarter but only 3.2 percent from a year ago.

Corpus Christi had a good quarter with occupancy rising 0.4 percent and effective rents up 1.1 percent from three months ago.

Currently, occupancy is at an average of 92.1 percent and effective rents are averaging $883 per unit.

Though overall occupancy is down 0.7 percent from a year ago, that is primarily due to new supply since the market absorbed over 700 units in the last 12 months.

Lubbock: Absorption in Lubbock was essentially flat in 1Q which meant with the addition of new units, overall occupancy fell 0.7 percent to 92.3 percent. Effective rent in Lubbock rose a modest 0.8 percent to $710 per unit.

Select Texas City Market Statistics
1st Quarter 2015
Occupancy Effective Rent /Unit
Market YE 2014 End 1Q Chg YE 2014 End 1Q Chg
Abilene 93.3%  91.6% -1.9% $686 $690 0.6%
Amarillo 90.1% 90.4%  0.3% $665 $672 1.1%
Corpus Christi 91.7% 92.1% 0.4% $871 $883 1.3%
Lubbock 93.0% 92.3% 0.7% $704 $710 0.8%


Source: ALN Apartment Data

See Texas Multifamily ALN 1Q 2015 for the full report. 

Brookings: Value-added ranking of Texas universities 

(5/6/2015 3:00:00 PM)

TEXAS - The Brookings Institution has released “Beyond college rankings: A value-added approach to assessing two- and four-year schools," highlighting the value added by Texas universities.

“A lot of popular rankings will take into account a lot of things about a school and maybe some things about the students who go to that school, but we’re looking exquisitely at what happens to graduates once they graduate,” said Siddharth Kulkarni, an author of the report.

“These rankings are a lot less biased by student characteristics.”

Below is a snippet of some Texas universities, ranked by mid-career value added in salary.

Value Added to Salaries by Degrees from Texas Universities
College Value add
mid-career salary
Mid-career
salary
Financial aid
(from school)
Rice – Houston 40% $119,900 $22,030
Texas A&M – College Station 31% $83,100 $10,254
University of Texas – Austin 25% $96,100 $2,949
Southern Methodist University –
Dallas
19% $95,900 $16,043
Texas Tech – Lubbock 18% $84,100 $1,658
Dallas Baptist University – Dallas 17% $74,000 $7,353
University of Texas – Arlington 16% $81,500 $2,889
University of Texas – Dallas 16% $85,000 $6,953
Baylor – Waco 15% $84,000 $14,603
University of Houston 14% $85,400 $3,387


Source: Brookings Institution

Read more at the Dallas Business Journal or see the full report at the Brookings Institution.

Going to college? Show mom or dad this! Texas Top 25 Universities with cost.

Fitch: Texas home prices significantly overvalued 

(5/6/2015)

TEXAS - Fitch Ratings says that home prices are overheated by almost 20 percent in both Houston and Austin.

The company’s new report is warning about the current spike in Texas home prices.

In the Dallas-area residential prices are 11 percent overvalued and values are 9 percent too high in Fort Worth, according to the report.

Texas was one of nine U.S. states where the ratings agency says home prices are overheating.

Back in December Fitch Ratings warned that Texas had the most overvalued home prices in the country and that a correction could be coming because of falling oil prices.

“Although Fitch identifies many of these cities as overvalued, this is from over-exuberant growth, rather than a lack of strong fundamentals,” Fitch said in the report. “The San Francisco Bay Area cities and the Texas oil-patch cities are representative of this group.”

North Texas home prices are currently growing at about twice their long-term average rate due to a dramatic undersupply of houses on the market and strong economic growth.

Home prices in the state are also increasing at a much higher rate than median incomes.

Texas real estate analysts have warned that the current rate of home price growth in DFW is unsustainable but may continue through this year and into 2016 if home inventories remain near record low levels.

Home price overvaluation
Market Over
value
Austin 19%
Houston 18%
San Antonio 15%
Dallas 11%
Fort Worth 9%
Texas 11%


Source: Fitch Ratings

Read more at the Dallas Morning News.

Your Town apartment market overview 1Q 2015 

(4/29/2015)

YOUR TOWN, TEXAS - How is the apartment market faring in your area? Apartment Market Data Research Services LLC has released March 2015 data for most Texas cities.

Click to see the full March 2015 Texas Multihousing Market Conditions Report, which includes data from areas across Texas.

Abilene Corpus Christi Lubbock Texarkana
Amarillo Dallas-Fort Worth McAllen Tyler
Austin El Paso Midland Victoria
Beaumont Harlingen Odessa Waco
Belton Houston San Angelo Wichita Falls
College Station Longview San Antonio Texas


See Market Research for all cities.

Source: Apartment MarketData Research Services LLC, San Antonio

Top of the lists: Texas universities by headcount fall 2014 

(4/28/2015)

TEXAS - The San Antonio Business Journal has released fall 2014 headcount numbers for Texas Universities. Addition information includes total cost and tuition and fees.

Texas Universities Ranked by Certified Fall Headcount 2014
Rank University Headcount
2014
Headcount
2013
Change Total Cost
Resident
Tuition & Fees
Resident
1 Texas A&M University 56,507 53,219 6.18% $22,470 $9,242
2 The University of Texas at Austin 52,059 -747 -1.43% $26,314 $9,798
3 University of Houston 40,914 39,540 3.47% $27,831 $10,331
4 Texas State University 36,739 35,546 3.36% $21,260 $9,500
5 University of North Texas 36,164 36,168 -0.01% $22,840 $10,066
6 The University of Texas at Arlington 34,868 33,329 4.62% $23,142 $9,380
7 Texas Tech University 34,843 32,797 6.24% $24,612 $9,608


Source: San Antonio Business Journal

Need all 25? Here you go! Top of the Lists: Texas Universities Ranked by Certified Fall Headcount 2014

How to screen prospective student tenants 

(4/10/2015 8:05:00 AM)

COLLEGE TOWN USA - Student renters are somewhat of a unique breed of tenants. Quite commonly, they have unique needs and don’t have any rental or credit history, which can make the screening process more difficult.

To help landlords with this process, Places4Students compiled a few tips for screening prospective student tenants.

Considering most rental inquiries will come via telephone or email, a landlord can have a set of questions prepared for potential tenants to save time.

In addition to the standard questions a landlord will ask such as name, contact information and preferred move-in date, the landlord should also get more detailed.

The tenant’s responses could potentially disqualify himself or herself immediately. For example, if a landlord operates a non-smoking or no pet rental, it would be beneficial to ask right away if the tenant has a pet or smokes.

Landlords should also ask more student specific questions. These questions could include:

  • Do you already have a roommate or people you plan to move in with?
  • How long of a lease are you looking for?
  • When does your school term begin?


If a student renter is unable to produce landlord references or a credit check, landlords can alternatively ask for a guarantor, co-signer or character references from an employer, professor, etc.

There are certain questions that a landlord legally cannot ask potential tenants, in a rental application or in person. Any question that could be interpreted as discriminatory under the Fair Housing Act cannot be asked, including familial status, disability, national origin, sex, religion, race and color.

Read more at Places4Students.com.

Texas demand jumps into U.S. apartment markets  

(4/2/2015)

TEXAS - Demand for apartments across the U.S. is continuing to rise, and the rapid leasing pace is pushing up occupancy and rent growth, according to MPF Research.

Running counter to the historically typical pattern of seasonally slow leasing during the winter months, apartment demand for a total of 64,297 units registered across the country’s 100 largest metropolitan areas in first quarter 2015.

“Accelerating job creation is allowing more young adults to form new households, and almost all of the new households are opting to rent,” said MPF Research vice president Greg Willett. “At the same time, relatively few of the more-established renters are leaving apartments to make home purchases for the first time.”

Texas plays an especially outsized role in the total demand results. Dallas-Fort Worth, Houston, Austin and San Antonio combined to account for 20 percent of total apartment demand nationally during the past year.

That share of demand doubles the 10 percent share of U.S. existing apartment inventory found in the big Texas markets.

Apartment Demand Leaders 1Q 2015
Rank Metro Units
Absorbed
1 Dallas-Fort Worth 18,023
2 Houston 15,872
3 Washington, DC 14,336
4 Los Angeles 13,292
5 Austin 12,940
6 Denver-Boulder 10,465
7 Atlanta 9,217
8 Chicago 8,834
9 Boston 8,325
10 Seattle-Tacoma 8,010
11 San Antonio 7,368


Read more at BusinessWire.

Best places to retire? Three Texas cities make the cut 

(3/27/2015)

TEXAS - The Lone Star State came in 23rd on Bankrate.com’s list of best states to retire, just ahead of North Carolina and ahead the state of Washington.

Wyoming is the best state to retire to, according to the report, followed by Colorado.

If you're trying to identify a specific city, Forbes recently released a list of 25 cities that are prime spots to kick back and enjoy the golden years.

Three Texas cities are on the list:

•  Abilene — Cost of living 17 percent below national average, average home price of $142,000, and population 120,000.

•  San Angelo — Cost of living 17 percent below national average, median home price of $189,000, and population 97,000.

•  San Marcos — Cost of living 8 percent below national average, typical home price of $198,000, and population 54,000.

Read more at the Dallas Business Journal.

For the rankings, see Bankrate.com and Forbes.

Coldwell Banker: Texas markets among best in U.S. 

(2/5/2015 6:15:00 AM)

TEXAS - It wouldn't be a real estate report if there wasn't a ranking, which is why Coldwell Banker Commercial Affiliates has examined more than 80 markets to come up with the best of the best markets in the country in 2014.

The U.S. commercial real estate industry continues to improve steadily in 2015, which is especially true outside core cities such as Boston, Los Angeles, New York and Chicago, said Coldwell President and COO Fred Schmidt.

The country's secondary and tertiary markets, such as Dallas, Denver, Houston, Phoenix, take the top spots in this year's ranked and are strong candidates for continued growth this year.

Here are the report’s top ten markets, which include all four of Texas largest metro areas:

2014 Coldwell Banker Commercial Market Comparison Report
Market Final
Rank
Office
Rank
Retail
Rank
MF*
Rank
Pop.
Rank
Unemploy.
Rank
Denver, Colo. 1 8 4 28 11 1
San Francisco, Calif. 2 1 1 17 35 23
Houston, Tex. 3 26 13 2 8 30
Dallas, Tex. 4 16 11 13 4 39
San Jose, Calif. 5 2 6 1 60 22
Phoenix, Ariz. 6 20 5 11 12 50
San Antonio, Tex. 7 21 27 41 6 20
Las Vegas, Nev. 8 59 18 25 7 7
Austin, Tex. 9 10 26 55 1 31
Orange County, Calif. 10 5 23 16 40 43


*Multifamily

Source: Coldwell Banker Commercial

Read more at the Dallas Business Journal and PR Newswire.

See the full report at Coldwell Banker Commercial.

TAR: 4Q 2014 Texas Quarterly Housing Report 

(2/2/2015 10:00:00 AM)

TEXAS - Real estate agents sold 66,664 homes in the Lone Star State during fourth quarter 2014, according to the Texas Association of Realtors (TAR). For all of last year, more than 284,000 houses in the state changed hands.

Texas home sales prices were up 7.8 percent in 4Q 2014 compared to 4Q 2013, with a median price of $185,900.

Despite the strong 4Q 2014 home sales across the state, the total number of properties sold by real estate agents was slightly below the record volume in 2013.

“Texas home sales in the first half of 2015 are expected to be similar to what we’ve seen in 2014, but continued increases in home prices and record-low inventory levels should still continue,” said Dr. Jim Gaines, economist with the Real Estate Center at Texas A&M University.

“Continued housing demand, especially in Texas’ metro areas, will be critical to sustaining our market’s strong housing development in 2015.”

Texas Quarterly Housing Report
Statistic 4Q 2014 4Q 2013
Sales (units) 66,664 61,463
Median Price 185,900 172,500
Avg. Price 240,976 225,217
Mo. Inventory 3.3 3.6


Source: Texas Association of Realtors

Read more at the Dallas Morning News.

See how your area performed at the 4Q 2014 Texas Quarterly Housing Report from the Texas Association of Realtors.

Texas regains No. 1 spot for job creation in 2014 

(1/28/2015 7:30:00 AM)

TEXAS - The Lone Star State generated 457,900 jobs in 2014 — the most ever created in Texas. The growth put Texas back in the No. 1 spot after trailing California in 2012 and 2013, according to the U.S. Bureau of Labor Statistics (BLS).

Overall, employment increased in all 50 states and Washington, D.C., in 2014 for the first time since 2004.

“Texas’ growth rate of 4 percent was double the national average” in 2014, said Cheryl Abbot, a Dallas regional economist for the BLS. “We’re seeing a very healthy growth rate virtually across every industry sector.”

Whether Texas can maintain its employment lead for 2015 is uncertain. Most economists expect the state to see much slower job growth this year as the plunge in oil prices takes a toll.

Texas’ oil and gas industry accounts for only about 3 percent of total employment, but it’s still a larger share than in many other states, Abbot said.

Read more at the Dallas Morning News.

Find more employment stats at the Texas Workforce Commission.

How apartments fared in small Texas Metros: ALN Dec. 2014 

(1/16/2015 9:45:00 AM)

TEXAS, U.S. - Overall market occupancy of smaller cities and states nationally is available for Dec. 2014 from ALN Apartment Data.

Links in the chart lead to the full page showing U.S. Metro Aug. data, including previous months.

Texas Market Occupancy Dec. vs.
Oct. 2014*
Market Dec. 2014
Occ.
Oct. 2014
Occ.
Beaumont 91.9% 92.2%
College Station 96.2% 95.6%
El Paso 88.0% 88.3%
Harlingen 93.1% 92.6%
Killeen-Temple** 90.0% 89.6%
Laredo 92.7% 93.5%
Longview-Tyler 91.6% 91.5%
Lufkin*** 93.0% 93.7%
Midland-Odessa 93.0% 89.9%
San Angelo 94.9% 96.8%
Texarkana 94.9% 86.7%
Victoria 89.9% 90.7%
Wichita Falls 85.1% 87.3%


*excludes student, senior, income-restricted properties
**Central Texas
***See Longview Market Data Sources for Lufkin.

Source: ALN Apartment Data

Need more multifamily data? See Market Data Sources and pick your Metro.

Forbes: Texas dominates 'Best Buy Cities' for 2015 

(1/14/2015)

TEXAS - Forbes has released Best Buy Cities: Where to Invest in Housing in 2015, a report dominated by Texas housing markets.

Forbes worked with Local Market Monitor, a data company that looks at home prices and economic factors in 300 housing markets across the nation, and determined that these cities are safe bets to invest — whether for rentals or first-time buyers — because of strong job and population growth, diversified economies, and relatively low housing prices.

Four of the cities have reached the point where prices are a slight bit overheated — Austin was the only Texas city — but given their fundamentals, they’re still a safe bet.

Houston’s housing market is still underpriced by 7 percent, with an average home price of $214,049, and the area’s job growth is exploding at 4.1 percent annually.

Dallas is underpriced by 9 percent, with an average home price of $197,159, and a slightly lower job growth of 3.8 percent.

Here are the Texas cities included in the Top ten spots on Forbes’ list:

1. Austin
3. Houston
5. Dallas
6. San Antonio
10. Fort Worth

Texas had the most cities on the list. For Texas cities, home prices have been growing between 7 and 12 percent, which indicates that even though flipping houses might be harder as the market continues to strengthen, the investment for long-term ownership is good in Texas.

See the full ranking at Forbes.

Dr. Jim Gaines: 2015 Housing market to start strong in Texas 

(1/7/2015 7:28:00 AM)

TEXAS - The Texas housing market had a record year in 2014, and much like its predecessor, 2015 is set to start off strong.

Jim Gaines of the Real Estate Center at Texas A&M University, said the drop in oil prices, however, could take a toll on the market.

“There is no doubt there will be an impact there, and it will be generally downward,” he said.

Gaines did say there are some offsetting factors such as growth in healthcare and technology services.

Source: WTAW

Texas holds'em with one of three U.S. jobs 

(1/6/2015 7:15:00 AM)

TEXAS - The Texas Workforce Commission (TWC) announced that the Lone Star State added 441,200 positions in 2014 — about a third of all jobs added in the U.S.

"We certainly have created business-friendly policies," said Hope Andrade, of the TWC.

"You may have heard is that more people are coming to Texas every day and businesses are locating to Texas. We have a high quality of life and a low cost of living. Most importantly, we have the workforce."

Texas, North Dakota and Utah are being hailed as the fastest-growing job markets of 2014, with each posting employment gains of more than 3 percent.

Texas' nonfarm employment has risen 3.7 percent, with Utah seeing a 3.8 percent gain and North Dakota seeing a 5 percent rise.

In November, TWC reported the state's unemployment rate was 5.5 percent, down from 6.6 percent in November 2013. In comparison, the U.S. Bureau of Labor Statistics reported in December that the national unemployment rate is still hovering at 5.8 percent.

Sectors leading the way in Texas job expansion include trade, transportation and utilities, which added 89,600 positions in the last 12 months.

TWC attributed a significant chunk of those gains to the North Texas region, where relocating businesses such as Toyota and State Farm are bringing in new opportunities. Dallas-Fort Worth-Arlington's unemployment rate is lower than the state's, at 4.6 percent in November.

Andrade is optimistic that job growth will continue into 2015 in Dallas and Texas as a whole.

Read more at the Dallas Business Journal.

For more employment stats, see the Texas Workforce Commission.

2014: New neighbors Texas bound says Atlas Van Lines 

(1/5/2015 7:55:00 AM)

TEXAS - For the third straight year, Texas was one of three states with the highest number of moves, according to the new 2014 report from Atlas Van Lines.

California was first with 13,967 moves, followed by Texas with 13,137 moves and Florida with 10,226 moves.

The moving company has conducted the study since 1993 to track interstate moving patterns reflected in moves handled by Evansville, Ind.-based Atlas.

The following chart shows how the number of inbound and outbound moves in Texas over the past ten years.

Texas Migration Since 2005
Year Inbound Outbound
2014 7,801 5,336
2013 7,856 5,647
2012 7,120 5,585
2011 7,861 5,663
2010 7,248 5,322
2009 6,833 4,773
2008 8,629 6,442
2007 8,831 6,665
2006 9,714 6,812
2005 9,525 7,210


See Atlas Van Lines for more North American moves.

Dallas Fed: Texas single-family housing to regain momentum 

(1/5/2015 6:55:00 AM)

TEXAS - Apartment construction in Texas will likely moderate, while the state’s single-family housing market may regain traction in 2015, according to the latest issue of the Federal Reserve Bank of Dallas’ Southwest Economy.

The market for single-family housing in Texas lost some momentum in 2014, with record-high prices, depleted existing-home inventories and declining affordability contributing to relatively slow growth in sales, according to Dallas Fed economist Laila Assanie.

Improved access to credit and an expanding supply of new homes for first-time and lower-income buyers will be essential for the state’s housing market to strengthen in 2015, Assanie notes.

Entry-level buyers have been squeezed in recent years by rising home prices and difficult-to-obtain mortgages, and builders have moved away from constructing entry-level homes in favor of higher-priced move-up products.

However, new guidelines from Fannie Mae and Freddie Mac that took effect on Dec. 1 revise lending standards, including the elimination of a requirement that a borrower put 20 percent down.

Rapidly rising home prices in Texas could pose a threat to Texas economic growth, making the state less competitive for business, according to Mark Dotzour, chief economist and director of research at the Real Estate Center at Texas A&M University.

“I feel that this is one of Texas’ most pressing economic development issues,” said Dotzour. “We need to build more homes to keep the supply high enough to prevent prices from getting so expensive that new workers choose not to relocate to Texas.”

Read more at the Federal Reserve Bank of Dallas and at Housing Wire.

Group grabs 1,650 apartment units in Texas  

(12/18/2014 9:02:00 AM)

DALLAS - Presidium Group LLC has acquired more than 1,650 apartment units throughout the state in a series of acquisitions over the last two months. The value of the portfolio exceeds $75 million.

The properties include:

•  Dallas: Plaza on Harvest Hill, a 404-unit complex;
•  Dallas: Spring Hill Apartments, a 606-unit complex;
•  Houston: 3737 Hillcroft Apartments, a 381-unit complex;
•  Houston: Colonial Woods, a 112-unit complex; and
•  San Antonio: Cenizo Flats, a 150-unit complex.

Dallas-based Presidium Group will implement a repositioning program for each property that will revitalize the assets to compete within each submarket.

The plans include various levels of unit interior renovations, resident amenity enhancements and common-area upgrades. Presidium will also rebrand the properties within the next few months.

Read more at GlobeSt.com.

Tag: apartments

Mapping cost of living across 32 Texas cities 

(12/16/2014 7:00:00 AM)

TEXAS - Home affordability rankings for 32 large and midsize Texas cities have been released by fixr, according to Texas Monthly.

Cities are grouped into affordability brackets — based on annual household income and realistic cost of living — and then sorted by discretionary income, which is the yearly amount remaining from earnings after covered expenses.

Annual household income draws on data from the Bureau of Labor Statistics, and the realistic cost of living derives from our formula of seven factors — housing, food, utilities, child care, taxes, health care and transportation. The full methodology is available here.

Below are the top three cities for a working class family, middle class couple, and upper middle class family.

Working Class Family
  (seeking 1,500 sf with three or four bedrooms)
City Income Expenses Discretionary
Income
Killeen $60,200 $57,468 $2,733
Wichita Falls $60,200 $57,952 $2,249
Abilene $60,200 $58,327 $1,874

 

Middle Class Couple
  (seeking 1,700 sf with two or three bedrooms)
City Income Expenses Discretionary
Income
Killeen $87,701 $54,768 $32,934
Mesquite $90,540 $58,731 $31,810
Fort Worth $90,513 $58,794 $31,719

 

Upper Middle Class Family
  (seeking 2,100 sf with three or four bedrooms)
City Income Expenses Discretionary
Income
Houston $233,553 $160,017 $73,537
Pasadena $232,411 $159,332 $73,080
Beaumont $216,700 $147,376 $69,325


See more categories, cities and full rankings with explanations at fixr.

ALN: Austin, Atlanta, DFW, Houston, Tampa, San Antonio 

(12/15/2014 7:15:00 AM)

AUSTIN, DFW, HOUSTON, SAN ANTONIO - ALN Apartment Data released the November 2014 review of occupancy, effective rent and more for Austin, Dallas-Fort Worth (DFW), Houston and San Antonio.

For reference, Atlanta, Ga., and Tampa, Fla., are shown. The general overview includes properties in initial lease-up.

General Overview Nov. 2014
Markets Austin DFW Houston San
Antonio
Atlanta Tampa
Occupancy rate 91.8 92.5 91.6 89.5 92.4 92.6
Units added 6,041 8,391 11,818 3,757 5,193 4,683
Units absorbed (annual) 4,219 7,871 9,292 1,937 6,014 4,398
Average size (SF) 852 859 874 838 1,014 922
Asking rent $1,100 $927 $963 $867 $936 $948
Effective rent $1,091 $918 $951 $850 $930 $943
Effective rent per SF $1.28 $1.07 $1.09 $1.01 $0.92 $1.02
Offering concessions 14% 25% 22% 38% 21% 16%
Avg. concession package 5.1% 4.4% 5.3% 4.8% 3.8% 3.4%


Read more at ALN Apartment Data.

tag: apartment

Texas housing sales boom to second best year ever 

(12/15/2014)

TEXAS - Sales this year for existing homes are expected to be the second best ever statewide, according to the Texas A&M Real Estate Center.

Housing sales are soaring across the state of Texas. There were 242,422 existing homes sold across the state from January to October.

Dr. Jim Gaines, research economist with Texas A&M Real Estate Center, says the state's booming economy is helping housing sales.

Gaines expects interest rates to stay steady for the coming months, but it's the higher end homes driving up sales volume. Home sales under $200,000 as well as new construction of more affordable homes is down.

Gaines adds that while housing prices are going up, incomes are not keeping up with the pace, so affordability will continue to be a problem for some homebuyers.

Read more at KBTX.

High schoolers: 'Find Your Future' in less than ten 

(12/12/2014 6:02:00 AM)

TEXAS - While Texas leads the nation in the creation of good jobs, many of the state's employers say they cannot find workers with the skills they need.

TEXASgenuine.org is a free resource that high school counselors and college advisors are using to showcase the value of career and technical education and to help students explore career options.

The website's "Find Your Future" career assessment takes less than 10 minutes to complete.

Among five recommendations, the Texas Comptroller's office suggests that Texas needs to do a better job of broadcasting the positive outcomes of career and technical education.

According to the Association of Career and Technical Education, these programs prepare students for a range of high-wage and high-demand careers, as well as further educational opportunities.

Offered by high schools, community colleges and technical schools, these programs equip students with employability skills and job-specific technical skills as well as core academic skills.

Read more at the Victoria Advocate.

Walmart cuts new path to small Texas towns 

(12/10/2014)

TEXAS - Walmart is rediscovering small-town Texas, opening 37 stores in the state from November through the end of January.

The smaller Walmart Neighborhood Markets in two sizes: a 40,000-sf traditional grocery store and its newer 12,000-sf store, which sells an abbreviated selection of fresh produce, meats and groceries and has a pharmacy and fuel pumps.

About half of the new Neighborhood Market stores in Texas are in cities such as Amarillo, Mission and San Antonio. Others are in suburbs, including Sachse, Wylie, DeSoto and Lancaster.

The 12,000-sf stores are in rural markets including Leonard, Hughes Springs, Anson, Whitewright and Merkel.

The Texas expansion accounts for 20 percent of the 170 Neighborhood Markets Walmart is opening in fourth quarter 2014.

Read more at the Dallas Morning News. Is your town one of the 37 getting a new Walmart? Find out at the Dallas Morning News

Texas shopping: retail sales flat across state in Nov. 

(12/8/2014)

TEXAS - November retail sales across Texas remained flat while prices increased, according to the Federal Reserve Bank of Dallas.

In a recent retail outlook survey, the Dallas Fed found that early November sales across Texas increased at 16.7 percent, the same rate as they grew in October. The selling prices index, the average cost for goods, increased by 1 percent last month.

Although statewide sale increases remained marginal, the Dallas Fed reported that retail sector activity increased in anticipation of the holiday shopping season.

Retail jobs increased by 10.8 percent in November. Despite increases in payroll, actual hours worked by retail employees dropped 2.9 percent last month.

The 246 Texas business executives surveyed by the bank reported that retail wages increased by 3.2 percent across the state last month.

Read more at the Temple Daily Telegram.

For more data, see the Federal Reserve Bank of Dallas.
Texas real estate news

TAR's 2014 Texas Annual Housing Report 

(12/8/2014)

TEXAS - Texas continued to be a national leader in economic, population, and housing market growth in 2014, yielding significant growth in all areas of Texas real estate over the last year, according to the 2014 Texas Annual Housing Report released by the Texas Association of REALTORS® (TAR).

Texas currently gains more out-of-state residents than any other state and is a leader in home sales from international buyers.

September’s 2014 Texas International Homebuyers Report showed that home purchases by international homebuyers reached its highest level in five years, contributing more than $11 billion to the Texas economy in a 12-month period.

The 2014 Texas Homebuyers and Sellers Report released in March reported that Texans’ median household incomes rose significantly in 2013, increasing 9.6 percent year-over-year to $91,700. This is nearly double the nationwide increase of 5.6 percent to $83,000 during the same time frame.

Luxury home sales surged to become one of the fastest growing price classes ($1 million or more) within the Texas housing market. January’s 2014 Texas Luxury Home Sales Report reported an average 35 percent year-over-year increase for luxury home sales in Texas’s four major metros in 2013.

Housing development picked up significantly over the last year, with new home sales in Texas outpacing those nationally by more than half according to the 2014 Texas Homebuyers and Sellers Report released in March.

Low inventory levels drove Texas condominium and townhome sales to be the fastest-growing segment of the housing market, increasing an average 10.5 percent in Texas’s four major metros in the first half of 2014.

Dan Hatfield, chairman of TAR concluded, “The Texas housing market will likely continue to be highly competitive in 2015. This has been a glowing year for Texas real estate, and 2015 is on-pace to be just as bright.”

Click here to see the full 2014 Texas Annual Housing Report from TAR.
Texas real estate news

Study trumpets Texas State Parks’ economic benefit 

(12/1/2014 9:14:00 AM)

TEXAS - The Texas State Park system’s more than 90 sites generate $774 million in retail sales annually, contributing $351 million in economic benefits and creating 5,800 jobs statewide, according to a Texas A&M University study.

A survey of park visitors and their spending habits was conducted at 30 state parks between March 2014 and June 2014 by a team led by Dr. John Crompton, a distinguished A&M professor in the Recreation, Parks and Tourism Sciences Department.

“The take-away message from this study should be that the state park system is an important contributor to the Texas economy, particularly in rural areas and that the state’s net investment in parks is returned many times over as visitors travel to enjoy the outdoors and leave their dollars behind,” said Dr. Crompton.

Spending by Bastrop State Park visitors added nearly $1.7 million to the Bastrop County economy and led to the creation of 35.6 jobs.

Similarly, in the Panhandle, Palo Duro Canyon visitors added more than $3.7 million to the coffers of Armstrong and Randall counties that supported 86 jobs in the local area.

Even remote Big Bend Ranch State Park in far West Texas contributed significant economic benefits to Presidio County by adding $1.9 million in sales and roughly 27 jobs.

The study further revealed that state park spending increased all Texans’ income by $202 million and generated 5,871 jobs paying an average annual salary of $34,000.

Local economic impacts varied by park, depending on the number of visitors and their spending habits. Some of the findings include:

•  Balmorhea — $2.3 million in value added; 50.3 jobs

•  Cedar Hill — $3.1 million in value added; 41.7 jobs

•  Garner — $6.9 million in value added; 16.1 jobs

•  McKinney Falls — $883,146 in value added; 16.1 jobs

•  Pedernales Falls — $1.7 million in value added; 41.1 jobs

Read more at the Cypress Creek Mirror.

View the entire study here.

Texas drilling permits fall 50 percent in November 

(12/1/2014)

TEXAS - In November 2014, there were 1,473 new Texas drilling permits, down from 2,947 in October 2014.

This is a sign that oil companies are holding back from boring into their sweetest spots while crude prices linger below $70 a barrel.

The 50 percent fall marks the first time in the past year that the number of new Texas drilling permits has declined; permits rose as much as 24 percent in September 2014, according to Drillinginfo.

For now, it is not necessarily a signal that shale oil producers have found their breakeven point, but it shows oil companies don’t want to drill up good spots in what could be a temporary low-price environment, said Drillinginfo CEO Allen Gilmer.

“Given the faster decline of unconventional wells, more of your economics are dependent on your year-forward production,” said Gilmer. “Essentially, people are drilling locations that hold acreage.”

Read more at the Midland Reporter-Telegram.

Job, rent growth: a matched pair 

(11/17/2014)

TEXAS - Nationally, monthly employment growth has exceeded 200,000 jobs for the past nine months.

Locally, the progress has been more variable, and one indicator of this is the correlation between job growth and rent growth, which dovetail 83 percent of the time, according to Dallas-based Axiometrics.

When these two statistics don't jibe, a market experiences “high job growth and low effective rent growth or vice versa, according to Axiometrics, which examined the top 54 apartment markets to see how each fared.

Unsurprisingly, the Texas trinity of strong job growth markets — Dallas, Houston and Austin — were part of the group that had growth in both indicators.

These cities had high 3Q job growth (3.8 percent in Dallas, 4.0 percent in Houston and 3.8 percent in Austin, as well as above-average effective rent growth: 4.4 percent, 5.2 percent and 4.6 percent, respectively).

While supply is continuing to increase across the U.S., the most recent Emerging Trends forecast from the Urban Land Institute and PricewaterhouseCoopers notes “a disproportionate share of new construction is at the high end. This makes sense when urban high-rise property in the gateway markets is priced at 20 percent to 30 percent more than the cost to construct.”

ULI’s report notes that multifamily’s real strength is that “it is not dependent upon just one demand segment. As local economies grow and the number of jobs rises, rental housing is required.”

Read more at GlobeSt.com.

More international homebuyers calling Texas home 

(11/14/2014 7:59:00 AM)

TEXAS - In 2014, U.S. real estate agents expect to sell more than $92 billion in homes to international buyers, a 35 percent increase from 2013.

Texas now accounts for about 11 percent of total international home purchases, according to data from the National Association of Realtors (NAR). Only Florida and California have more foreign buyers.

About 30 percent of U.S. real estate agents now say they are working with offshore clients.

The biggest growth has been in buyers from China. NAR estimates total international sales from Chinese buyers rose to $22 billion in the 12 months that ended in March 2014, up from $12.8 billion in the previous 12 months.

Canadians spent almost $14 billion, and Mexican buyers spent about $4.5 billion.

In Texas, almost 60 percent of international home purchases were by Latin Americans, with second-place Asian buyers accounting for 18 percent.

“Among the foreigners coming in, the Canadians are buying and the Chinese are buying,” said Lawrence Yun, chief economist with the National Association of Realtors. “They are going to Florida, California, Arizona and Texas.”

Read more at the Dallas Morning News.

Dreaming of dollars: Texas hotel occupancy 3Q 2014 

(11/14/2014)

TEXAS - In third quarter 2014, 12 areas exceeded the state occupancy average, and 22 of the 27 areas showed increased occupancy versus 2013.

The table below is sorted by 3Q 2014 occupancy, and clearly shows the continuing, positive affect of oil and gas exploration and production activity.

In all oil and gas counties statewide, 3Q 2014 occupancy averaged 67.4 percent, up 2.5 points from 64.9 percent in 2013.

Top 12 Metros Ranked by Occupancy 3Q 2014
  2013 Total 3Q 2014
Metro Area

Occ.%

$ Rev.
Chg.
Occ. % Chg. % $ Rev.
Chg.
Midland 81.9 1.7% 84.4 9.4 44.8%
College Station-Bryan 66.7 18.3% 78.7 7.7 21.7%
Odessa 77.0 -0.9% 78.6 6.4 24.3%
San Angelo 82.9 36.7% 77.3 -8.4 -4.1%
Amarillo 61.1 10.3% 71.8 1.9 3.9%
Waco 61.7 10.4% 71.6 6.3 14.9%
Austin-Round Rock 72.5 13.9% 71.3 3.1 14.7%
Lubbock 66.8 9.4% 70.2 -0.6 4.4%
Laredo 67.5 -5.2% 69.4 2.0 4.7%
Houston-Sugar Land-
Baytown
66.4 12.8% 68.7 2.2 9.8%
San Antonio 62.5 5.5% 68.4 3.8 10.9%
Victoria 64.1 -6.0% 67.4 3.2 13.4%
State average 63.6 8.6% 66.4 2.6 11.3%


See the full report at the Office of the Governor, Economic Development & Tourism.

For more stats on all counties and MSAs, see Hotel under Market Data Sources.

Texas tradin’: ITA ranks lone star metro export values 

(11/14/2014)

TEXAS - The International Trade Administration (ITA) ranked 400 metro areas by measuring 2013 export values. Ten Texas metros were ranked in the top 60 MSAs with their statistics listed below.

Texas MSA Export Values
U.S.
Rank
MSA 2012 (full year)
Export Value
2013 (full year)
Export Value
Change
1 Houston-The Woodlands-Sugar Land* $110,297,753,116 $114,962,566,720 4.23%
9 Dallas-Fort Worth-Arlington $27,820,946,540 $27,595,985,143 -0.81%
16 San Antonio-New Braunfels $14,010,234,128 $19,287,645,505 37.67%
22 El Paso $12,796,863,134 $14,359,748,977 12.21%
37 Austin-Round Rock $8,976,611,543 $8,870,843,552 -1.18%
39 Beaumont-Port Arthur $5,448,117,396 $8,243,740,130 51.31%
50 Laredo $5,236,472,957 $5,569,272,628 6.36%
54 McAllen-Edinburg-Mission $5,198,545,660 $5,265,488,806 1.29%
56 Corpus Christi $5,809,394,716 $5,144,752,585 -11.44%
58 Brownsville-Harlingen $4,577,001,315 $4,621,741,351 0.98%

*Houston-The Woodlands-Sugar Land is the newest name for the Metropolitan Statistical Area (MSA).

See the full ITA report here.

Coldwell Banker Texas average home price rankings 

(11/14/2014)

TEXAS - The average listing price of a four-bedroom, two-bathroom home in Texas is $205,656, according to the Coldwell Banker Home Listing Report.

The average home price rankings for similar-sized four-bedroom, two-bathroom homes in various Texas markets are listed below.

Texas Market Average Home Price Rankings
Market State
Ranking
Average
Price
Boerne 1 $378,154
Austin 2 $369,510
La Vernia 3 $299,089
Grapevine 4 $287,270
Keller 5 $285,912
The Woodlands 6 $279,764
Midland 7 $278,774
Flower Mound 8 $272,343
Robinson 9 $266,727
Cedar Park 10 $265,844
New Braunfels 11 $264,706
Tuscola 12 $260,960
Georgetown 13 $255,833
Sugar Land 14 $249,353
Pittsburg 15 $249,164


See the entire rankings list at Coldwell Banker.

Texas forecast: best state for future job growth 

(11/13/2014)

TEXAS - The Lone Star State ranked first for economic climate and future job growth and sixth on “The Best and Worst States for Business 2014” list, according to Forbes Magazine.

Texas added 2.1 million jobs since 2000, more than twice as many as any other state. Texas is expected to have an annual job growth rate of 2.7 percent over the next five years — the fastest in the nation — according to Moody's Analytics.

"Texas has done well primarily because it is an energy center. You really can't get around that," said Edward Friedman, an economist who tracks Texas for Moody's Analytics.

"Every major energy and oil company has realized over the last 15 years that the only place to be is Houston."

The Texas economy have benefited from growth from the Eagle Ford Shale in South Texas, which pumped an estimated $87 billion into the state's economy in 2013 and supported 115,000 jobs.

In addition to Texas' impressive job growth, it also is expected to have the second-fastest economic growth rate over the next five years: 4.1 percent annually.

Texas Categories
List Rank
Economic climate 1
Growth Prospects 1
Best states for business 6
Labor supply 11
Business costs 13
Regulatory environment 16
Quality of fife 33


Read more at Forbes and the San Antonio Business Journal.

Veterans, military installations impact Texans 

(11/11/2014 10:00:00 AM)

Texas - The United States Military provides nearly $150 billion in economic impact while also employing approximately 900,000 Texans. Overall, the military creates about 6 percent of Texas economic activity.

Texas has the most working veterans in the nation, and its unemployment rate for all veterans is in the bottom third. Annual averages for 2013 are the most recent data available by state.

Furthermore, the military pours money into local communities by purchasing everything from houses to groceries, which increases local and state tax revenue.

For a full picture of Military economic impact, see the Texas Military Might infographic provided by the Dallas Morning News.

Military Times rankings salute Texas Universities 

(11/11/2014 8:15:00 AM)

TEXAS - The Military Times has released its Best for Vets Career & Technical Colleges rankings for 2015. A list of Texas Universities included in the rankings is listed below.

In order to decide which schools made the list and where they should be ranked, the Military Times compared not only schools' survey responses, but also data compiled by the U.S. Education Department, including academic success measures.

Best for Vets: Colleges 2015
Rank School 2014 Military
Enrollment
7 Texas A&M University 648
16 Texas State University 1,118
19 Texas Tech University 768
26 The University of Texas at El Paso 1,940
31 Angelo State University 408
36 University of Texas at Arlington 1,584


Read more at the Military Times.

Texas leads nation in oil field job growth 

(11/11/2014)

TEXAS - The Lone Star State led the nation in the number of new oil and gas production jobs in 2013, adding 19,000 private positions, according to the U.S. Energy Information Administration (EIA).

Furthermore, the numbers do not take into account the new jobs created in the corporate headquarters of oil and gas companies in Houston and other cities far removed from the shale plays.

Texas’ numbers were nearly six times the number added in New Mexico, which had the second highest job creation rate in the nation. Between 2003 and 2008, the U.S. added 183,510 oil-and-gas production jobs, a 63 percent increase.

The average oil field worker earned $108,000 in 2013, more than twice the average private sector. Since 2009, oil and gas production wages increased by 12 percent, outpacing the private sector.

Texas is home to some of the nation’s most prolific shale plays, including much of the Permian Basin in West Texas and Haynesville formation in East Texas as well as all of the Eagle Ford Shale in South Texas.

Read more at the Midland Reporter-Telegram.

Economist: Commercial property investment forecast in 2015 

(11/10/2014)

UNITED STATES - A forecast from Lawrence Yun, chief economist with the National Association of Realtors, predicts commercial property investments in the U.S. will reach $420 billion in 2015.

However, the property market has a ways to go to get back to the $571 billion in annual investments made in 2007 before the recession hit.

“We turned the corner about 12 to 18 months ago,” said Yun. “For 2014 we anticipate about $400 billion of commercial real estate activity — still short of 2006 or 2007 levels.”

The economic downturn sharply reduced commercial property market investments to only about $67 billion in 2009.

“When the great recession occurred, credit froze,” Yun said. “There was a bout a 90 percent reduction in business activity for the commercial sector.”

Now the market is recovering with commercial property activity and prices getting back closer to previous peak levels as the overall economy grows, according to Yun.

States with the biggest employment increases are seeing the best commercial real estate activity.

“Some states are doing much better than others,” Yun said. “The state of Texas is consistently in the top five.”

Read more at the Dallas Morning News.

HAR.com to drop 'Houston' from name, launch new features 

(11/4/2014 1:00:00 PM)

HOUSTON - HAR.com, a popular home listing database which formerly focused predominately on the Houston area, will be rebranded from the Houston Association of Realtors to Homes and Realtors (HAR).

Launched in 1997, the Houston Association of Realtor's website has grown over the years to become the No. 1 Multiple Listing Service (MLS) portal in the Bayou City, according to the professional organization.

In March 2014, HAR.com expanded its listings to include 11 major markets statewide. The new HAR.com will have a database of over 100,000 active listings and 8.2 million properties, and connect users to nearly 80,000 agents across Texas.

Along with the name change comes a slew of new-fangled features. Here are a few notable changes:

•  "Drive Time" will allow consumers to search for properties by how long they want their commutes to be. Users can input their office address and desired commute time, and the new HAR.com will create a map and a list of active home listings within the desired commute time.

•  Mobile users can receive push notifications on their GPS-enabled phones for new home listings and search for nearby open houses. A new app feature lets Realtors provide audio tours of homes for homebuyers to listen to.

•  Realtors can fill out profile pages introducing their services to potential homebuyers. Using their profile, they can participate in discussion boards and share expert advice on a variety of topics, from schools and neighborhood amenities to the home buying process.

•  Homebuyers can rate Realtors on their profiles, read reviews of neighborhood schools and share homes they liked with Realtors more easily, which can cut down on the volume of emails and text messages between the agent and buyer.

The beta version, which launched in spring, can be accessed at beta.har.com.

Read more at the Houston Business Journal.

Gaines: Texas housing on track for second-best year ever 

(11/3/2014 10:00:00 AM)

TEXAS - Economists with the Real Estate Center at Texas A&M University are forecasting that 2014 will end as the second-best year ever for the Texas housing market.

“Last year was the second-best year ever in the state of Texas for home sales volume,” said research economist Dr. Jim Gaines.

“It was second only to 2006, which was at the height of the housing boom and all the easy financing. And 2013 wasn’t that far off from that. This is going to become the new second-best year ever. We are having a really terrific year.”

At the end of September, 217,690 homes had been sold in Texas, a 1 percent gain from the same period in 2013, according to Gaines' report from the Center.

“We’re getting exactly what we thought we were going to get, and that’s a slowdown in the rate of increase,” Gaines said.

“Last year sales went up about 16 percent. It was a big, big jump. This year it’s a little jump. Home prices are doing a very similar kind of thing. There’s been a step-up in prices the last five years, and we’re still seeing that step up. But the rise of the step isn’t quite as high,” said Gaines.

Read more at the Fort Worth Star-Telegram and listen to Podcast 232Housing Market Update with Jim Gaines from October 22, 2014.

USAA: military vets best Texas cities to retire, work 

(10/29/2014)

TEXAS - San Antonio and Austin are the No. 1 and No. 2 destination for military retirees, according to a study commissioned by USAA and the U.S. Chamber of Commerce.

"Best Places for Veterans" identifies ten U.S. metros in three categories: Starting Out, Mid-Career and Military Retirement.

The Military Retirement category looks at metros that offer more opportunities to maximize military retiree benefits and offer employment that aligns with military skills.

The Starting Out category measures local unemployment rates, the presence of higher education facilities, in order to identify cities where military veterans might have the best chance to get jobs. Austin also ranked No. 2 using that measurement, while College Station ranked No. 9.

The third study ranking looked at Mid-Career measurements such as job growth in the top local industries that employ veterans, veteran wage growth and certification/license transfers.

Houston ranked No. 1 in that category. San Antonio was No. 2. Austin ranked No. 5 and Fort Worth was No. 9.

Read more at the Austin Business Journal.

Check out the full rankings at USAA (must have cookies enabled in your browser).

American Campus student housing 4Q 2014 occupancy 

(10/28/2014)

TEXAS - American Campus Communities (ACC) has released fourth quarter 2014 statistics for their student housing properties across the U.S.

The chart below shows Texas properties with a final fall 2013 occupancy of 98 percent or greater.

4Q 2014 Same Store Properties with Final Fall 2013
Occupancy of 98% or Greater
      Physical Occ. Sept. 30
  Design
Units
Design
Beds*
2014 2013
Vintage and Texan West Campus, Austin 124 311 99.4% 98.7%
26 West, Austin 367 1,026 99.4% 99.5%
The Callaway House Austin &
The Penthouse at Callaway, Austin
219 753 99.5% 99.5%
U Club Townhomes on Marion Pugh,
College Station
160 640 99.4% 99.4%
The Callaway House, College Station 173 538 104.1% 103.9%
City Parc at Fry Street, Denton 136 418 98.3% 98.3%
Villas on Sycamore-Huntsville 170 680 99.4% 99.4%
University View, Prairie View 96 336 100.0% 100.0%
University Village Northwest,
Prairie View
36 144 100.0% 100.0%
Aggie Station, Bryan 156 450 100.0% 100.0%
Campus Edge on UTA Boulevard,
Arlington
128 488 100.0% 99.6%
Callaway Villas, College Station 236 704 99.3% 99.7%
Sanctuary Lofts, San Marcos 201 487 93.4% 98.2%
Union, Waco 54 120 97.5% 98.3%
The Outpost, San Marcos 162 486 95.9% 99.2%

*Design beds include beds for staff accommodations.

See the PDF at American Campus Properties Sept. 2014.

See American Campus Communities for more information.

Baby boomers wanting to downsize could face housing shortage 

(10/27/2014 10:30:00 AM)

TEXAS - Baby boomers trying to downsize or move closer to the urban core might see a housing deficit in some U.S. markets, a Metrostudy report concluded. Houston and Dallas-Fort Worth topped the list.

The baby-boom generation, now 55 years old and older and nearing retirement, will create a demand for more housing in the next five years, leaving some without the ability to move into the type of home or location they want.

Metrostudy found that 52 percent of all new home purchases within the next five to ten years will be made by adults 55 and older.

The potential housing gap is more than 260,000 in the top ten ranked markets. The top ten metro areas with the largest housing deficits are:

1. Dallas-Fort Worth
2. Houston
3. District of Columbia
4. Atlanta
5. Miami
6. Denver
7. Seattle
8. Phoenix
9. Austin
10. Minneapolis-St. Paul

Read more at the Houston Chronicle.

Metros that top Texas employment rankings Sept. 2014 

(10/24/2014 6:45:00 AM)

TEXAS - The Texas Workforce Commission released Total Nonagricultural Employment rankings for September 2014. Rankings are by Metropolitan Statistical Area (MSA). Numbers are preliminary and subject to revision.

Top Texas MSA Rankings Sept. 2014*
Unemployment Rate Monthly Job Growth Rate Actual Annual Job Growth Rate Actual
1. Midland 2.6% 1. College Station-Bryan 4.2% 4,300 1. Midland 6.4% 5,500
2. Odessa 3.1% 2. McAllen-Edinburg-Mission 1.5% 3,500 2. Odessa 5.1% 3,700
3. Amarillo 3.6% 2. Odessa 1.5% 1,100 3. Houston-Sugar Land-
    Baytown
4.3% 119,400
4. Lubbock 3.8% 4. Texarkana 1.3% 700 4. Longview 3.9% 3,900
5. San Angelo 3.9% 5. Midland 1.2% 1,100 4. Victoria 3.9% 2,100
5. College Station-Bryan 3.9% 6. Laredo 1.1% 1,100 6. Austin-Round Rock-
    San Marcos
3.6% 31,400

*total nonagricultural employment
"Yes, Virginia, we know we have the same number twice in some places. Those are cities that tied."

Source: Texas Workforce Commission

To see the full report, click MSA Monthly Rankings under MSA Profiles.

Texas No. 1 business climate, new survey says 

(10/22/2014)

TEXAS - For the sixth consecutive time Texas took the top spot on Development Counsellors International's (DCI) "Winning Strategies in Economic Development Marketing" survey.

The survey, published every three years since 1996, tracks trends in economic development. DCI specializes in economic development and tourism marketing.

Of the 356 respondents in 2014 49.7 percent said Texas has the most favorable business climate.

Florida ranks a distant second, with 18.1 percent, and Georgia and North Carolina tied for third with 17.6 percent each.

The survey also listed Houston among the best cities for economic development.

Corporate executive respondents cited Texas' tax climate (54 percent), "pro-business environment" (47 percent) and incentives/financial assistance (18 percent) as reasons for ranking the state so highly.

Site selection consultants who participated also ranked the Texas Governor's Office of Economic Development the No. 2 "best in class" state-level economic development agency.

Texas has received a number of such accolades, including Site Selection magazine's Governor's Cup for 2013, the fifth time the Lone Star State received that honor over the past decade.

Read more at the Austin Business Journal.

Texas: How apartments fared in small Metros: ALN Aug. 2014 

(10/14/2014 8:00:00 AM)

TEXAS, U.S. - Overall market occupancy of smaller cities and states nationally is available for Aug. 2014 from ALN Apartment Data.

Links in the chart lead to the full page showing U.S. Metro Aug. data, including previous months.

Texas Market Occupancy Aug. v. June 2014*
Market Aug. 2014
Occ.
June 2014
Occ.
Beaumont 91.8% 90.9%
College Station 94.6% 92.9%
El Paso 91.1% 91.5%
Harlingen 95.4% 95.7%
Killeen-Temple** 89.9% 91.2%
Laredo 94.3% 93.8%
Longview-Tyler 92.0% 91.0%
Lufkin*** 89.9% 88.3%
Midland-Odessa 96.1% 94.6%
San Angelo 97.3% 96.4%
Texarkana 90.2% 91.9%
Victoria 97.0% 95.6%
Wichita Falls 87.3% 87.7%

*excludes student, senior, income-restricted properties
**Central Texas
***See Longview Market Data Sources for Lufkin.

Source: ALN Apartment Data

Need more multifamily data? See Market Data Sources and pick your Metro.

Daddy, don’t sell the farm! 

(10/14/2014)

TEXAS - The vast majority of Texas land — 83 percent — is part of a farm, ranch or forest. Texas, however, is losing rural land more than any other state because of the exploding growth of metropolitan areas, according to the latest Texas A&M Institute of Renewable Natural Resources survey.

Texas lost about 1 million acres of open space lands between 1997 and 2012, and a majority of the land loss happened in the growing urban areas around Austin, San Antonio, Dallas and Houston.

Scientists say the trend has serious implications for Texas' water supply because such acreage, known as "working lands" or "open space" lands, helps the state retain water resources by letting rain infiltrate the ground and circulate into aquifers.

At the same time, the market value of land is increasing in almost every Texas county, but it is increasing the most in the booming metropolitan areas. Travis County, for example, lost almost a quarter of its open space while land gained an average of $8,297 per acre in value between 1997 and 2012.

In Texas, where more than 95 percent of land is privately owned, there are unique challenges for the conservation of open space lands. As land gets more expensive, those who own open spaces will have more of an incentive to sell their acres to developers.

Read more and check out the maps at the Texas Tribune.

Forbes: 12 Texas ZIP codes rank as most expensive 

(10/13/2014)

TEXAS - Forbes has released its annual list of America’s Most Expensive Zip Codes for 2014, with Texas claiming 12 of the 500 most expensive ZIP codes in the nation.

For this ranking, California-based real estate firm Altos Research calculated the median home prices for more than 28,500 U.S. ZIP codes (covering 95 percent of the U.S. population) using asking prices for single-family homes and condominiums listed for sale.

Houston had five ZIP codes crack the list, with Austin posting four and Dallas recording three.

Texas’ most expensive ZIP code is 77024, which has a median asking price of $1.6 million. For comparison, the Silicon Valley ZIP code of 94027 in Atherton, California, tops Forbes' list with a median price of $9 million.

Below is a chart of the 12 Texas ZIP codes to crack the list.

Most Expensive Zip Codes in Texas
Rank* City ZIP Median Price
153 Houston 77024 $1,585,346
164 Dallas 75205 $1,516,840
183 Austin 78735 $1,455,108
185 Houston 77056 $1,431,464
195 Austin 78746 $1,410,092
250 Houston 77005 $1,280,130
274 Dallas 75225 $1,238,037
377 Houston 77027 $1,037,568
389 Bellaire 77401 $1,016,683
444 Dallas 75220 $953,856
489 Austin 78703 $904,444
498 Austin 78733 $895,314

*Rank is out of the top 500 ZIP codes on Forbes' list.

Read more at Forbes.

For more on each city’s most expensive ZIP codes, check out the Austin Business Journal, the Dallas Business Journal and the Houston Business Journal.

Maquiladoras evolve, fuel Texas job growth 

(10/13/2014)

TEXAS - Mexico's maquiladora industry is evolving from simple assembly into the production of sophisticated technology and other high-value goods, creating higher-paying jobs and generating more business and employment for Texas border cities.

The maquiladora industry began in the mid-1960s, by allowing American companies to set up manufacturing facilities in Mexico — and to import the machines and materials needed for their operations duty-free — in exchange for employing Mexican nationals.

"Most of the manufacturing takes place in Mexico, but Texas Border cities such as McAllen, El Paso, Brownsville and Laredo have grown significant service-based economies," said Roberto Coronado, assistant vice president and senior economist at the El Paso branch of the Federal Reserve Bank of Dallas.

Modern maquiladoras manufacture auto parts, computers and servers, televisions, refrigerators, mobile devices and medical instruments. In the last ten years, the number of trucks importing goods into the U.S. has remained relatively stable, but the value of those goods is two to three times higher than before.

McAllen's job count rises by 6.6 percent for each 10 percent production increase in Reynosa, according to the Dallas Federal Reserve.

El Paso employment rises by 2.8 percent for a similar increase in production in Ciudad Juárez. Equivalent figures for Laredo and Brownsville are 4.6 percent and 2.2 percent, respectively.

Today, the transportation, personal service and business service sectors are the fastest-growing sectors in Texas Border cities, and the influx of jobs has led to significant increases in per capita income.

"The gap that has always existed between U.S. and Border per capita income levels has been closing up," said Coronado. In 2010, for instance, El Paso's per capita income rose to $28,365, 71 percent of the U.S. level — reflecting a considerably narrower gap than 2000's 62 percent.

Read more at the Texas Comptroller of Public Accounts.

See the Maquiladora Production & Texas Jobs map in the article provided by the Federal Reserve Bank of Dallas.

ALN: Austin, Atlanta, DFW, Houston, Tucson, San Antonio 

(10/10/2014 6:50:00 AM)

AUSTIN, DFW, HOUSTON, SAN ANTONIO - ALN Apartment Data released the September 2014 review of occupancy, effective rent and more for Austin, Dallas-Fort Worth (DFW), Houston and San Antonio.

For reference, Atlanta, Ga., and Tampa, Fla., are shown. The general overview includes properties in initial lease-up.

General Overview Sept. 2014
Markets Austin DFW Houston San
Antonio
Atlanta Tampa
Occupancy rate 93.5 93.5 92.3 91.5 92.9 93.6
Units added 7,178 9,618 12,858 3,194 4,851 4,145
Units absorbed (annual) 5,679 12,249 10,686 2,462 6,970 4,174
Average size (SF) 852 860 873 837 1,014 920
Asking rent $1,091 $923 $958 $863 $931 $943
Effective rent $1,084 $913 $946 $848 $925 $937
Effective rent per SF $1.27 $1.06 $1.08 $1.01 $0.91 $1.02
Offering concessions 12% 26% 23% 39% 21% 17%
Avg. concession package 4.8% 4.1% 5.0% 4.4% 4.1% 3.7%


Read more at ALN Apartment Data.

2014 Fastest-growing cities: Texas takes 11 of top 20 spots 

(10/10/2014 5:25:00 AM)

TEXAS - Of the top 20 fastest-growing cities in the U.S. between 2008 and 2013, Texas cities claimed 11 spots, according to WalletHub analysis using ten key metrics including population growth rate and unemployment rate decrease.

WalletHub analyzed a veritable raft of demographic data to determine the cities that have grown the most rapidly in socio-economic terms between 2008 and 2013.

Fastest Growing Texas Cities in the U.S. 2008-2013
U.S.
Rank
City
1 Mission
2 Irving
5 Edinburg
8 Austin
9 Pharr
12 San Angelo
14 Fort Worth
16 League City
17 Grand Prairie
18 Killeen
20 Frisco


Read more at Value Walk.

Texas' smaller cities may win out for raising young families 

(10/8/2014 9:28:00 AM)

TEXAS - Everything may be bigger in Texas, but when it comes to raising a family, the smaller cities may win out. 

Texas ranks as the fastest-growing state for job growth, according to the Bureau of Labor Statistics, but to raise kids well, education and affordable housing also carry weight.

NerdWallet crunched the data for 111 places in Texas with populations over 25,000 to find the best places for young families in Texas by analyzing the following factors:

• Public school excellence made up 33.3 percent of the score. GreatSchools compares students’ test scores to the state average on a one to ten scale, with ten as the highest.

• Median home values were 16.7 percent of the score. The information is from the U.S. Census Bureau’s 2012 ACS, data set DP04.

• Monthly homeowner costs were 16.7 percent of the score. The figures are from the U.S. Census Bureau’s 2012 ACS, data set DP04. Places with more affordable homes had higher scores.

• Median household incomes were 16.7 percent of the score. We used the U.S. Census Bureau’s 2012 ACS, data set DP03.

• Income change from 1999 to 2012 was 16.7 percent of the score. The information is from the U.S. Census Bureau data sets P053 and DP03.

Best Places for Young Families in Texas
City GreatSchools
Rating
Median Home
Value in 2012
Median
Monthly
Homeowner
Costs 2012
Median
Household
Income
2012
Median
Income
Growth
from
1999 to
2012
Overall
Score
Frisco 10 $249,000 $2,213 $108,428 36.99% 69.6
Friendswood 9 $220,500 $2,082 $102,811 48.18% 69.1
Allen 9 $197,400 $1,915 $101,966 29.20% 65.7
Burleson 8 $122,800 $1,431 $68,528 35.88% 64.9
Mansfield 8 $179,700 $1,892 $92,208 38.11% 63.1
Sugar Land 9 $253,700 $2,211 $107,149 31.04% 62.9
Keller 9 $272,400 $2,366 $115,374 33.79% 62.9
Wylie 8 $156,700 $1,657 $78,132 33.80% 62.7


Read more at NerdWallet.

Texas cities benefiting from the economic recovery 

(10/8/2014)

TEXAS - The current U.S. economic recovery has been concentrated in a handful of regions, and per capita growth in the energy states has been impressive. Forbes has compiled a list of cities that are benefiting the most from the economic recovery

Placing first on the list is Houston-The Woodlands-Sugarland, where per capita GDP rose 13.2 percent from 2010 to 2013, a major achievement in a region whose population continues to grow rapidly.

Including all 381 MSAs, no places come close to the two oil towns that rank first and second overall. Midland, with 38.8 percent growth since 2010, and Odessa, with 34.1 percent growth over the same period.

Also notable, the town of Victoria clocked over 21 percent growth.

Among the largest metro areas, energy hubs also did well. Dallas-Fort Worth-Arlington ranked 13th with 6.5 percent growth and the San Antonio area ranked 16th due to a gusher in the Eagle Ford Shale play, which has pumped $87 billion into the south Texas economy.

Read more at Forbes.com.

Texas exports lead nation; record-breaking 2013 

(10/8/2014)

TEXAS - Texas led the nation in exports last year, selling a record-breaking $279.5 billion worth of goods abroad, according to U.S. Trade Representative Michael Froman.

That marked a 183 percent increase over the Lone Star State's export sales in 2003. It also beat Texas' previous export record of $264.7 billion in 2012.

“More than 1 million Texas jobs are supported by trade,” Froman said. “Our job is to open more markets to exporters. Ninety-five percent of the world's consumers live outside the United States.”

Texas' largest trade partner was Mexico. The state's manufacturers posted $100.9 billion in merchandise sales in Mexico in 2013, representing 36.1 percent of the state's total merchandise exports.

Mexico was followed by Canada at $26.1 billion, Brazil at $10.9 billion, China at $10.8 billion and the Netherlands at $9.5 billion.

The state's largest manufacturing export category was petroleum and coal products, which accounted for $60.6 billion of Texas' total goods exports in 2013. Oil refiners have been helped by cheaper crude oil flowing in from the Eagle Ford Shale and the Permian Basin.

Other top manufacturing exports were electronic products at $48.2 billion, chemicals at $47.9 billion, machinery at $30 billion and transportation equipment at $24.4 billion.

Read more at the San Antonio Express-News.

Texas wants you anyway! 

(10/7/2014 7:15:00 AM)

TEXAS - Companies seeking a location for their next distribution facility are being welcomed to Texas with open arms, relatively low costs and a favorable tax environment.

When businesses choose a location they concentrate on such factors as geography, transportation infrastructure, labor supply and costs and business environment.

"The great thing about Texas is you can check off almost every box,” said Tom Sanderson, CEO of Transplace.

Texas's central location makes it easy to reach consumer markets all across the country, and the state has six of the country's 20 most populous cities: Houston, San Antonio, Dallas, Austin, Fort Worth and El Paso.

There is land available for greenfield distribution sites near major cities, and land costs and occupancy costs are reasonable compared with prices in metropolitan areas of a similar size.

Border towns of Laredo and El Paso have become hotbeds of logistics and distribution center activity.

Growth in trade with Mexico has sparked a boom in the distribution center market in Dallas-Fort Worth, as the metropolis has proved to be an attractive consolidation point for Mexican-made goods heading north on I-20 or east/west on I-35.

Texas is the country's top exporting state, with more than $297.7 billion in exports, according to the state's Office for Economic Development & Tourism. Principal exports include petroleum and coal, chemicals, computers, nonelectrical machinery and transportation equipment.

Texas has over 3,000 miles of highways, more than any other state. "We do not have, like a lot of other markets, heavy-haul corridors, and as result of that, trucks are welcome on all major thoroughfares," said Will Condrey of Cushman & Wakefield.

Texas is also home to the second-longest rail system in the country and is served by three Class I railroads: the Union Pacific, the Kansas City Southern, and the Fort Worth-based BNSF Railway. The rail system connects Texas to both coasts as well as to Mexico.

For oceangoing freight, the state is home to the 12th-busiest port in the world: the Port of Houston. The state also provides excellent air cargo service, with the Dallas-Fort Worth International Airport (DFW) alone handling more than $50 billion worth of cargo annually.

Texas also has a strong supply of labor, with a civilian work force of more than 13 million people, the second largest (and one of the youngest) in the country.

Read more at DC Velocity.

Texas forest sector: $30B to economy, supports 130,600 jobs 

(10/6/2014 9:00:00 AM)

TEXAS -  Texas A&M Forest Service has completed a new study (August 2014) of the economic contribution provided by forestry-driven, wood-based industries in Texas. The report analyzes data collected from 2012, the most current available and released August 2014.

The Texas forest sector has an economic contribution of $30.3 billion in industry output, supports over 130,600 jobs and is one of the top ten manufacturing sectors in the state.

“With the economy improving and the housing market getting better and better, we should continue to see the forest industry’s economic contribution to Texas increase,” said Dr. Omkar Joshi, Forest Economist with the Texas A&M Forest Service.

In 2012, the 43-county region of East Texas produced $5.7 billion worth of goods and services, directly supporting more than 18,900 jobs.

This region is home to over 80 percent of Texas’ timberland, and is the main producer of primary forest products such as lumber, structural panels, paper and pulp.

Manufacturing of secondary forest products like windows, doors and engineered wood products that use wood along with other materials, contributed over two-thirds of the Texas forest sector’s total industry output and employed 72 percent of the forest sector workforce.

Texas forest products firms exported more than $1.8 billion worth of forest products to foreign countries in 2012. East Texas was the largest contributor to exports accounting for about 42 percent of the total value of Texas forest products foreign exports.

Read more at Big Country Homepage.

See the full report here.

CBRE: Texas demographics, labor market, business conditions 

(10/3/2014)

TEXAS - CBRE has released a special report — Impact of Corporate Expansions and Relocations on Major Texas Office Markets — that highlights the significant role of corporate expansions and relocations in the recovery of the Texas office market since 2010.

Below is an excerpt of the full report.

Key Workforce & Business Statistics for the Five Largest U.S. States
  Demographics Labor Market Business Conditions
State Total
Population
(2013, Mil.)
Civilian
Labor Force
(July-14, 000s)
Unemp.
Rate
(July-14)
Total
Payroll Jobs
(July-14, 000s)
Best States
For Business
(Rank, 2014)
State Business
Tax Climate
(Rank, 2014)
Small Business
Policy Index
(Rank, 2014)
California 38.332 18,579.8 7.4% 15,492.5 50 48 50
Texas 26.448 12,979.5 5.1% 11,607.8 1 11 3
New York 19.651 9,599.5 6.6% 9,042.2 49 50 47
Florida 19.552 9,611.2 6.2% 7,795.9 2 5 5
Illinois 12.882 6,512.8 6.8% 5,824.5 48 31 35
U.S. 316.128 156,023 6.2% 139,004 N/A N/A N/A


Sources: Census Bureau, Bureau of Labor Statistics, Fortune, Tax Foundation, Chief Executive Magazine, Small Business & Entrepreneurship Council, CBRE Research, September 2014

Click here to see CBRE's full report.

For more information, see Austin, Dallas-Fort Worth, Houston or San Antonio Market Data Sources.

Texas' military bases more valuable than you think? 

(9/16/2014)

TEXAS - Texas is home to several major military bases and installations serving all branches of the United States military.

Projects on bases and surrounding communities help bring jobs, investments and opportunities for health care, education and real estate to Texans.

Additionally, more retired military men and women make Texas their home after their years of service than any other state.

Texas' military installations

•  provide an economic impact of more than $148 billion to the Texas economy;
•  account for 6 percent of the state's economic activity; and
•  employ more than 255,000 military and defense-related civilian personnel.

For an interactive map of Texas' military bases check out TheTexasEconomy.org.

Scroll down to mid-page and click on a 'star' for more data.

NAR's nine Texas metros 2Q housing stats 

(9/16/2014)

TEXAS - The National Association of Realtors released its 2Q housing statistics for nine metros areas it traditionally covers. As a bonus, previous quarters are included.

The metro regions include:

Abilene (PDF)
Amarillo (PDF)
Austin-Round Rock (PDF)
Beaumont-Port Arthur (PDF)
Corpus Christi (PDF)
Dallas-Fort Worth-Arlington (PDF)
El Paso (PDF)
Houston-Sugar Land-Baytown (PDF)
San Antonio (PDF)

Source: National Association of Realtors, courtesy of Prudential Ada Realtors.

ALN: Austin, Atlanta, DFW, Houston, Tucson, San Antonio 

(9/15/2014 7:15:00 AM)

AUSTIN, DFW, HOUSTON, SAN ANTONIO - ALN Apartment Data released the August 2014 review of occupancy, effective rent and more for Austin, Dallas-Fort Worth (DFW), Houston and San Antonio.

For reference, Atlanta, Ga., and Tucson, Ariz., are shown. The general overview includes properties in initial lease-up.

General Overview Aug. 2014
Markets Austin DFW Houston San
Antonio
Atlanta Tucson
Occupancy rate 93.4 93.5 92.7 91.3 92.9 90.1
Units added 6,721 9,479 12,702 3,225 4,852 331
Units absorbed (annual) 4,704 12,814 14,385 2,104 7,193 -67
Average size (SF) 851 860 873 838 1,014 731
Asking rent $1,083 $919 $950 $861 $923 $641
Effective rent $1,077 $909 $939 $846 $917 $616
Effective rent per SF $1.26 $1.06 $1.07 $1.01 $0.90 $0.84
Offering concessions 12% 28% 24% 40% 22% 61%
Avg. concession package 4.2% 4.1% 4.9% 4.3% 3.9% 6.5%


Read more at ALN Apartment Data.

Metrostudy: Texas' home lot production leads U.S. 

(9/11/2014 6:58:00 AM)

TEXAS - Metrostudy has released second quarter 2014 data on housing lot starts and deliveries.

Here are the Top Ten states for lot production in 2Q 2014:

Top Ten States, Home Lot Production
State 2Q 2014
Starts
2Q 2014
Deliveries
Texas 19,714 18,931
Florida 12,416 10,974
California 10,050 10,219
North Carolina 4,866 3,168
Georgia 4,489 1,270
Colorado 3,985 3,276
Arizona 3,519 4,596
Maryland 2,436 2,122
Utah 2,328 2,498
Virginia 2,198 1,850


Read more at Metrostudy.

TAR: International homebuyers spent $11B in Texas in 2013 

(9/4/2014 6:15:00 AM)

TEXAS - When it comes to finding a home in the U.S., Texas remains a top spot among international buyers. These buyers accounted for $92 billion worth of home sales in the U.S. between March 2013 and March 2014.

Of that $92 billion, 12 percent, or $11 billion, was spent on homes in Texas, according to the 2014 Texas International Homebuyers Report by the Texas Association of Realtors (TAR).

Florida had the No. one spot — capturing 23 percent of the international market. California was second, with 14 percent of the market, TAR reports.

“The Texas housing market is not only strong in sales volume, but in its diversity,” says TAR Chairman Dan Hatfield. “International homebuyers increasingly view Texas homes as a good investment, and as our economy has grown, so has the number of international homebuyers in our state.”

Of those international homebuyers who are investing in Texas, 59 percent are from Latin America or the Caribbean. Many of these buyers are likely from Mexico — given that more than 65 percent of U.S. homes purchased by Mexican homebuyers were located in Texas, TAR states.

Read more at the San Antonio Business Journal.

Click here to see the full 2014 Texas International Homebuyers Report by the Texas Association of Realtors (TAR).

DFW, Houston lead U.S. in job growth over past year 

(8/28/2014)

TEXAS - The DFW and Houston areas rank among the nation’s top three metropolitan areas for job growth over the last 12 months, according to data from the U.S. Bureau of Labor Statistics.

The New York area was No. 1 with 155,400 new jobs from July 2013 to July 2014. The DFW area was No. 2 (120,800 jobs), and the Houston area was No. 3 (112,200 jobs).

Overall, year-over-year employment rose in 327 U.S. metros, fell in 41 areas and was unchanged in four areas. The nation has 372 major metro areas.

Here are the top ten Texas metropolitan statistical areas ranked by number of jobs added during the past year:

Top Ten Texas MSAs by Jobs Added, July 2013 – July 2014
National
Rank
MSA Jobs
added
Change
2 Dallas-Fort Worth-Arlington 120,800 7.4%
3 Houston-Sugar Land-Baytown 112,200 7.0%
19 Austin-Round Rock-San Marcos 32,600 4.4%
31 San Antonio-New Braunfels 20,800 3.7%
60 College Station-Bryan 6,700 3.0%
70 McAllen-Edinburg-Mission 6,000 2.8%
79 Midland 5,300 2.8%
81 Corpus Christi 5,200 2.8%
84 El Paso 4,900 2.7%
97 Lubbock 4,200 2.5%


Source: U.S. Bureau of Labor Statistics

Read more at the Dallas Morning News.

For more stats on employment and more, check out any MSA's Market Data Sources.

Sweet dreams in Texas: hotel occupancy 2Q 2014 

(8/27/2014 7:10:00 AM)

TEXAS - In second quarter 2014, ten areas exceeded the state hotel occupancy average. Meanwhile, 19 of 27 Texas areas showed increased occupancy compared to 2013, according to Source Strategies Inc.

The table below is sorted by 2Q 2014 occupancy, and clearly shows the continuing, positive affect of oil and gas exploration and production activity.

In all oil and gas counties statewide, 2Q 2014 occupancy averaged 68.9 percent, up 1.7 points from 67.2 percent in 2013.

Top Ten Metros Ranked by Occupancy 2Q 2014
  2013 Total 2Q 2014
Metro Area

Occ.%

$ Rev.
Chg.
Occ. % Chg. % $ Rev.
Chg.
Midland 81.9 1.7% 84.7 0.9 31.4%
Odessa 77.0 -0.9% 79.6 -1.4 8.8%
San Angelo 82.9 36.7% 78.4 -3.8 -3.6%
College Station-Bryan 66.7 18.3% 77.7 6.2 26.9%
Austin-Round Rock 72.5 13.9% 75.9 0.3 8.3%
Lubbock 66.8 9.4% 72.7 1.1 7.3%
Houston-Sugar Land-
Baytown
66.4 12.8% 71.9 3.2 11.6%
Dallas-Plano-Irving 65.4 10.2% 71.7 4.0 11.2%
Waco 61.7 10.4% 68.8 1.6 5.6%
Victoria 64.1 -6.0% 68.1 -0.5 8.6%
State average 63.6 8.6% 67.8 1.8 9.1%


See the full report at Source Strategies Inc. or the Office of the Governor, Economic Development & Tourism.

For more stats on all counties and MSAs, see Hotel under Market Data Sources.

Forecast 2022: West Texas Energy Consortium booms 

(8/21/2014)

WEST TEXAS - The Center for Community and Business Research at The University of Texas of San Antonio’s Institute for Economic Development has determined the economic impact of oil and gas activities in the West Texas Energy Consortium (WTXEC).

WTXEC is organized by workforce solutions boards in the Concho Valley, West Central Texas, and the Permian Basin.

The ten-county core study area includes Fisher, Glasscock, Howard, Irion, Martin, Mitchell, Nolan, Reagan, Scurry, and Sterling counties. In 2012, the oil and gas industry in the ten core counties is estimated to have had a total impact of $14.5 billion, supported 21,450 full-time-equivalent (FTE) jobs, generated revenues of $446 million for the local governments and $472 million for the state government.

The total impact of oil and gas industry activity in the ten core counties in 2022 is forecast to be more than $20 billion in the moderate scenario, with 30,540 jobs anticipated, and revenues of $664 million for the local governments and $701 million for the state government.

Additionally, a secondary study was conducted on Brown, Coke, Coleman, Runnels, Taylor, and Tom Green counties, which neighbor the core study area.

The economic output of the six neighboring counties are forecast to grow significantly over the period between 2012 and 2022. Forecasts show that Tom Green ($148.5 million), Taylor ($80.8 million), and Runnels County ($12.9 million) will continue to have the largest economic output in 2022.

See the Center for Community and Business Research’s full report.

Texas adds 46,600 jobs in July 

(8/19/2014)

TEXAS - Texas added 46,600 seasonally adjusted jobs in July, according to data the Texas Workforce Commission (TWC) reported August 15.

The state’s seasonally adjusted unemployment rate held at 5.1 percent for the month, more than a percentage point lower than the nation’s at 6.2 percent. The number is a reflection of the 396,200 jobs the state has added over the past year.

Leading the job growth charge was the Midland Metropolitan Statistical Area (MSA), which boasted the lowest unemployment rate for the month at 2.9 percent.

Taking second was the Odessa MSA at 3.6 percent, and taking third was the Amarillo MSA at 4.1 percent.

However, all metropolitan rates reported by the TWC are not adjusted for seasonal employment trends, such as students looking for summer jobs. For comparison, Texas recorded a 5.6 percent unemployment rate, not adjusted, up from 5.5 percent in June and down from 6.7 percent a year ago.

Source: Texas Workforce Commission

For the full August 2014 report, see Texas Labor Market Review (TLMR). Go to page 10 of the report to see unemployment rates and rankings for all MSAs.

Read more at the Houston Business Journal.

Affordable housing draws middle class to inland cities 

(8/19/2014)

TEXAS - Rising rents and the difficulty of securing a mortgage on the coasts have proved a boon to inland cities that offer the middle class a firmer footing and an easier life.

The country’s fastest-growing cities are now those where housing is more affordable than average, a decisive reversal from the early years of the millennium, when easy credit allowed cities to grow without regard to housing cost.

Among people who have moved long distances, the number of those who cite housing as their primary motivation for doing so has more than doubled since 2007.

Since the start of the recession, of those who moved more than 500 miles, the share who said they were chiefly motivated by housing has risen from 8 percent in 2007 to 18 percent in 2014.

During the housing bubble, when even people with modest salaries could get loans to buy staggeringly expensive homes, the cost of housing was less of a concern.

Now that getting a mortgage has become harder, the wage stagnation that has hobbled the middle class for years has deeper consequences.

“People have no choice,” said Glenn Kelman, the chief executive of real estate services firm Redfin. “They can’t move across the street; they have to move across the country.”

Here are the U.S. cities ranked in the highest "most affordable" category by Redfin:

•  San Antonio, TX
•  McAllen, TX
•  El Paso, TX
•  Fort Worth, TX
•  Dallas, TX
•  Houston, TX
•  Oklahoma City, OK
•  Wichita, KS
•  Syracuse, NY
•  Gary, IN

Read the full article at the New York TimesFor a summary, see Beyond the Headlines.

CBRE 2Q 2014: Texas multifamily big four metros 

(8/13/2014)

TEXAS - Amid strong job and population growth, the apartment market remains strong across all four of Texas’ major metro areas, according to CBRE’s 2Q 2014 Texas Multifamily MarketView.

Texas remains one of the nation’s leaders in new apartment construction. Almost 9,000 new units were delivered in 2Q 2014 across the four major metros and 59,916 units remain under construction.

The combined occupancy rate for Austin, Dallas-Fort Worth, Houston and San Antonio was 91.6 percent, an increase of 20 basis points from 1Q 2014.

Increased apartment demand has driven up occupancy levels in Class A properties across all markets. Class B and Class C properties are also experiencing higher occupancy levels as rising rents are beginning to challenge affordability and price renters out of Class A properties.

On a statewide level, 2Q 2014 rents grew 6.2 percent year-over-year. Austin leads the state in average rent per sf at $1.21.

Quick Stats Multifamily 2Q 2014
Market Vacancy Absorption
(Units)
Avg.
Rent
Austin 8.7% 1,594 $1,023
Dallas 7.5% 4,571 $862
Houston 9.0% 5,521 $878
San Antonio 9.4% 2,156 $806

For the full report, click here.

For more multifamily, check out Austin, Dallas-Fort Worth, Houston or San Antonio Market Data Sources.

Texas cities ranked among the 'cool' towns in U.S. 

(8/12/2014)

TEXAS - Forbes magazine has ranked Dallas, Houston, Austin and San Antonio among America’s Coolest Cities in 2014. All four metros ranked inside the top 15.

Austin came in at No. 3, Houston at No. 4, DFW at No. 10 and San Antonio at No. 15.

The ranking looked at the 60 largest metropolitan statistical areas using six equally rated factors: recreation, entertainment, foodie culture, age of residents, diversity and population growth, including net migration.

Washington, D.C., topped the list followed by Seattle.

Read more at the San Antonio Business Journal.

See Forbes for the full report.

TAR: Texas housing inventory sees rare increase in 2Q 2014 

(8/7/2014 10:57:00 AM)

TEXAS - The Texas housing market showed quarterly gains in housing inventory for the first time in three years in second quarter 2014, allowing home sales to keep pace with 2013’s strong levels while home prices continue to increase from high demand.

The 2Q 2014 Texas Quarterly Housing Report released by the Texas Association of Realtors (TAR) shows monthly housing inventory increased from an all-time low of 3.4 months in 1Q 2014 to 3.6 months in 2Q 2014.

“The statewide housing inventory shortage to date in 2014 has prevented Texas from seeing the double-digit increases in home sales growth that we saw last year, so this new increase in inventory is promising,” said Dan Hatfield, chairman of the TAR.

“However, home sales volume continues to keep pace with 2013 — the second-best year ever for Texas real estate — showing that housing demand continues to be very strong throughout the state. While this figure is still a year-over-year decrease of 12.2 percent from 2Q 2013, it is the first time since 2011 that housing inventory has increased on a quarterly basis," Hatfield said.

This gain in housing inventory led to a strong start for the 2014 summer selling season. In 2Q 2014, Texas home sales increased 46.7 percent from the 1Q 2014 and 1.1 percent year-over-year to 81,272 homes sales. 

In the same time frame, the median price for homes increased 5.9 percent from 2Q 2013 to $187,300 and average price increased 5.3 percent year-over-year to $246,209.

“Texas is facing an inventory shortage. A steady, ongoing supply of new housing stock — particularly in the first-time and move-up buyer market, where a majority of home sales volume occurs — will be crucial to Texas housing market growth in the second half of 2014 and in the future,” said Dr. Jim Gaines, economist at the Real Estate Center at Texas A&M University.

Read more at the Texas Association of Realtors.

How apartments fared in small Metros: ALN Midyear 2014 

(8/6/2014)

TEXAS, U.S. - Overall market occupancy of smaller cities and states nationally is available from the midyear 2014 report from ALN Apartment Data.

Links in the chart lead to the full page showing U.S. Metro June data, including previous months.

Texas Market Occupancy June 2014*
Market Occ.
Beaumont 90.9%
College Station 92.9%
El Paso 91.5%
Harlingen 95.7%
Killeen-Temple** 91.2%
Laredo 93.8%
Longview-Tyler 91.0%
Lufkin*** 88.3%
Midland-Odessa 94.6%
San Angelo 96.4%
Texarkana 91.9%
Victoria 95.6%
Wichita Falls 87.7%

*excludes student, senior, income-restricted properties
**Central Texas
***See Longview Market Data Sources for Lufkin.

Source: ALN Apartment Data

Need more multifamily data? See Market Data Sources and pick your Metro.

Three Texas cities make top five fastest-moving markets 

(7/31/2014)

TEXAS - ZipRealty just released new data analyzing the fastest-moving housing markets. The median days on market among 25 major metro areas was 29 days, compared to 27 days as of June 2013. The fastest-moving markets at the end of the second quarter were:

1. Austin — 10 days
2. Washington, D.C./Northern Virginia — 14 days
3. Dallas, Portland and Denver (tied) — 15 days
4. Houston and Seattle (tied) — 17 days
5. Sacramento and Boston (tied) — 19 days

Read more at ZipRealty and the Houston Chronicle.

Store RedZone Podcast RSS logo Twitter Facebook YouTube Mays Business School
© 2015. REAL ESTATE CENTER AT TEXAS A&M UNIVERSITY. ALL RIGHTS RESERVED. TERMS OF USE.