The future of the Texas commercial real estate market looks bright

2008-07-26 21:27:43 (GMT) (WiredPRNews.com - Top Stories)

Dallas, Texas (WiredPRNews.com) — At a time when the economy is on a seemingly constant downslide, it is hard to know exactly where the real estate market in any given city is going. Home sales everywhere are down and foreclosures are occurring in record numbers. New construction and commercial real estate sales have slowed down tremendously and Realtors all over the country are working hard with potential home buyers to invest in a home and get home sales back on the incline.

However, for the commercial real estate market in Texas, things are continuing to look up; particularly in the commercial real estate sector. According to Lewis Realty Advisors, a real estate valuation and consulting firm located in Houston, Texas, major metropolitan areas around the state are continuing to post gains in significant areas such as employment and population, two of the most important groups in terms of business.

David Lewis, who is the founder of the company, tells Dallas Business Journal that while he does not feel as though Texas is not immune to some of the same economic problems that has affected other regions of the country, he does see many positive trends in the area of real estate and in the general economy of the state of Texas.

The report names Dallas/Forth Worth, Austin, Houston and San Antonio as top gainers in terms of job growth in the nation. Coinciding with those numbers are increased numbers of population growth for all four cities as well. The economy in Texas relies mainly on healthy education, technology and health care sectors. However, the energy sector is what continues to drive the Texas economy, with a large presence in the Dallas/Fort Worth area.

Lewis’ view of the numbers is that because Texas is seeing overall growth, it is a signal that Texas real estate is performing just as well and likely will continue the trend for the foreseeable future.

Joan Severson - Dallas Real Estate Agent