The Robbie Report: Why Invest in Real Estate in Texas and DFW
July 31st, 2013 | by Update Metro
Mark Doutzer, chief economist and director of research at the Real Estate Center at Texas A & M University, doesn’t have struggle to come up with the reasons why Texas is a good place for real estate investment.
And plenty of those reasons apply specifically to Dallas-Fort Worth. We continue to grow in terms of population and job creation. Our real estate market is vibrant, to say the least, with average home prices hitting records. And our quality of life consistently gets high marks in national surveys.
Here’s how Doutzer summarized it all in a recent presentation:
- Population growth: Our current population is around 26 million. The state demographer says our population will grow by another 30 million between 2010 and 2050, a 120 percent increase. We are going to have to produce a lot of houses, apartments, shopping centers and offices to support the burgeoning population.
- Job growth: Approximately 68 percent of all jobs in Texas are located in DFW, Houston, Austin and San Antonio. Nearly 90 percent of all Texas jobs are located in our 25 metro areas. That means just 11 percent of jobs are outside of our largest cities.
- Real estate market: Texas clearly needs to build more homes. We also need to create new subdivisions to provide quality neighborhoods for these new homes. We also need bank lending and private equity investment to provide capital for these undertakings. A shortage of lots and a low inventory of homes for sale will continue to push prices for lots and houses higher in 2013 and most likely next year as well.
Click here to read more of Doutzer’s thoughts.
The Boots to Beijing blog is produced by Briggs Freeman Sotheby’s International Realty to track investments and relationships between China and the Dallas-Fort Worth region.
Briggs Freeman Sotheby’s International Realty is Dallas’ luxury real estate leader, with more than 190 agents in five offices located throughout the Metroplex and access to the global Sotheby’s network, including more than 11,000 agents in 600 offices worldwide. For more information on escapes and second homes, ranch and land, and luxury homes in the Dallas-Fort Worth region and beyond, go to briggsfreeman.com.
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