Greater Houston Partnership’s Post

🌟 Houston Economy Update - June 2024 🌟 Houston's economy is holding steady, but what does the data really tell us? 🤔 Here’s a quick breakdown: • Job Growth: 📈 1.8% annualized (March–June '24) – steady expansion but at a moderate pace. • Unemployment Rate: 📉 4.4% – indicating near-full employment, but are we keeping up with population growth? • Average Hourly Earnings: 💰 $34.66 – strong earnings, reflecting well-paying job opportunities. • Wage Growth: 💹 3.9% year-over-year – wages are rising faster than inflation, boosting purchasing power. What does this mean for Houston? 🏙️ The economy is resilient, but we must watch for potential challenges, especially with our ties to the energy market. Stay informed, stay ahead! 🚀 #HoustonEconomy #RealEstate #JobGrowth #EconomicUpdate #FedData #HoustonJobs #WageGrowth #EnergySector #HoustonTX

As Texas's cities expand at a breakneck pace, understanding the implications for real estate becomes crucial. This visual snapshot captures the essence of population growth in major Texas hubs and its direct effects on housing and infrastructure. Why Texas is Growing: Job Opportunities: Robust job creation in tech, healthcare, and energy sectors is magnetizing professionals nationwide. Lifestyle Appeal: With diverse cultural, dining, and outdoor activities, Texas offers a quality of life that's hard to resist. Educational Excellence: Premier universities and research institutions make it an educational beacon. Real Estate Implications: Increased Housing Demand: More people means a greater need for residential properties, both rentals and homes for sale, leading to a bustling construction scene. Urban Expansion: As populations swell, cities like Austin, Dallas, Houston, and San Antonio are seeing expanded urban boundaries and rising property values. Infrastructure Strain and Development: Newcomers necessitate enhanced infrastructure, from roads to public utilities, prompting both opportunities and challenges in development. This dynamic growth transforms Texas into a landscape of opportunity for real estate professionals, investors, and newcomers alike. Whether looking to invest or find a new home, staying informed about these trends is essential. Dive into the details and see why Texas continues to be a top choice for growth and investment in the US. #TexasGrowth #RealEstateInvestment #UrbanExpansion #TIP

Why is Texas so appealing to investors? Texas has a strong, diverse economy that remains resilient, even during downturns. Key industries like technology, energy, and healthcare drive job creation and population growth, increasing demand for housing and commercial real estate. In the past decade, Texas has seen a significant influx of residents from across the U.S., attracted by its job market, lower cost of living, and business-friendly environment. This population growth has kept demand for housing and rentals high, particularly in cities like Austin, Houston, Dallas, and San Antonio, supporting a thriving real estate market. 👇🏻Comment below which of these areas are your preferred to invest?

No wonder more people are moving to the Lone Star State! Texas continues to shine as a powerhouse of growth and opportunity. Here are some key insights into the Texas market this year: 🚀 Booming Economy: Texas boasts a stellar GDP growth rate of 4.1%, making it one of the fastest-growing economies in the U.S. Key sectors driving this growth include technology, energy, and healthcare. 👥 Population Surge: With over 30 million residents, Texas remains a magnet for people seeking vibrant communities and economic opportunities. Austin, Dallas, and Houston are leading the way in population growth. 💼 Thriving Job Market: The state’s unemployment rate stands at a low 3.2%, with job creation on the rise, particularly in tech, healthcare, and renewable energy sectors. 🏢 Business-Friendly Environment: Texas continues to attract businesses with its low taxes and pro-business regulations. It’s a top choice for startups and established companies alike. 🏡 Real Estate Hotspot: The Texas housing market is booming, with new home constructions up by 12% and commercial real estate seeing unprecedented investment levels. At Big Oak Tree Media, we’re here to help you navigate and thrive in the dynamic Texas market. Whether you’re expanding, relocating, or investing, our expertise ensures your success. Dive into the opportunities that Texas offers and grow with us! #TexasMarket #EconomicGrowth #BusinessExpansion #BOTMAgency #Texas2024 #agency #publicrelationsagency #marketingagency #houston #houstontexas #houstontex #houstontx #htx #htown #hou #myhouston #htown #agencylife #diversity #equity #inclusion #economy #realestate #jobmarket

Multifamily development in primary markets has faced five major headwinds since COVID: 1) high material costs 🪵 🧱 ⬆️ 2) reduced demand 🏙️ —> 🏘️ —> 🏠 3) higher borrowing costs - 🏦 📈 4) low labor supply 🔨 🦺 🔧 5) work from anywhere 🏝️ 🏔️ 🏜️ I believe 4 of these 5 headwinds go away in 2025: 1) Lumber prices have declined to their lowest level since the 2020 pandemic, down 80% in 2 years ✅ 2) New supply being absorbed by new demand as Gen Z moves to the city ✅ 3) Federal Reserve has essentially met its inflation goals and risks over correcting; rates drop 9/17-18 ✅ 4) Low labor supply still an issue (could in fact worsen post elections) ❌ 5) RTO (return to office, even partial, eg 2-3 days a week) is forcing workers to move back to the urban core ✅ Caveat: Florida and Texas were net beneficiaries of this trend and only need to worry about keeping residents who left New York and California, respectively. Cities providing job growth and a high quality of life in and near the urban core will win.

Dallas-Fort Worth Area's robust job growth, as reported by the U.S. Bureau of Labor Statistics, reflects positively on the local real estate market. With a 1.8% increase in total nonfarm employment over the year, the region's dynamic economy is fueling demand for homes. #DFW #RealEstate #JobGrowth https://lnkd.in/duuE3Un

Salem Oregon is outpacing the state and employment recovery post-pandemic thanks it’s diverse economy and including strong sectors of government, education and healthcare. As a result, we’re seeing rising housing prices, lower vacancy rates, and higher rents. This is why I am extremely bullish on the secondary markets in Oregon, Salem specifically.

🚀 Florida's economy is booming! With a 21.9% growth since 2019, they're outpacing the national average by a mile. 📈 GDP is soaring at nearly $1.3 trillion, thanks mostly to the over 3 million new businesses that have set up shop since 2019. Just this year, they've welcomed another 266,000! That's no small feat - credit where credit's due, Gov. Ron DeSantis credits "effective leadership" for this economic surge. 👏 And let's talk about jobs! The Sunshine State is shining bright, leading with a private sector job growth rate of 2.2% - that's over 192,000 new opportunities for skilled workers. The construction industry is topping the charts with a significant 5,500 job boost just last month. 🏗️💼 It's not just about numbers, though. Investing in skilled, well-paid jobs is what's setting Florida apart, making them a magnet for ambitious workers. Plus, with an unemployment rate comfortably sitting at 3.3%, staying below the national average for over 3 years straight. 🙌 Seeking new horizons? It's an exciting time for Florida - let's keep this growth going! 🌴 Happy to connect and discuss Construction opportunities with: - PMs/PEs - Superintendents - Estimators And everything in between! #FloridaEconomy #JobGrowth #InnovationHub

This just in: the Tampa Bay metro area ranks #8 in the US for 2023 economic growth according to Area Development! Some of the important factors include: local GDP, unemployment rates, what kinds of jobs are growing, how well the needs of employers are matching with what the labor market has to offer, and the activity in such hot sectors as high-tech manufacturing and R&D, and other occupations linked to science, technology, engineering, and math (STEM). Read the full report at https://lnkd.in/ebf6Ux7g