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Millennials set their eyes on Houston housing marketMillennials set their eyes on Houston housing markethttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=161722017-03-29T05:00:00Z2017-03-29T22:00:00Z

​​​​HOUSTON – According to a new Realtor.com report, the bayou city is a magnet for Millennial homebuyers.​​

The report, released on March 22, included a list of the top U.S. cities for Millennials, with Houston ranking number five.

The online real estate portal analyzed the 60 largest housing markets in the U.S., and ranked each city by the share of Millennials viewing properties on the company’s website.

In the Houston area, Millennials—particularly those ages 25 to 34 years old—were interested in Realtor.com properties located in the Heights, Oak Forest and Timbergrove, according to the website.

As one of the largest demographic of homebuyers, Millennials are now driving a transformation in Houston’s housing market toward smaller, more affordable—but quality—homes.
Houston Business Journal
Houston-The Woodlands-Sugar Land
Housing
http://www.bizjournals.com/houston/news/2017/03/22/houston-among-top-cities-nationally-for-millennial.html

​Check out more Houston Housing Market Research.

Read more at {Source}
Skilled laborers spread thin in AustinSkilled laborers spread thin in Austinhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=161992017-03-29T05:00:00Z2017-03-29T21:40:00Z

​​​​AUSTIN – In the past six years the number of Austin building permits has increased more than 25 percent, according to city data.

During the same timeframe, the number of construction workers increased by more than 27 percent in the Austin-Round Rock metropolitan area, according to U.S. Bureau of Labor Statistics data.

Despite an increase in the number of overall workers, many construction sites are understaffed, namely with skilled laborers who must have specific certifications or licensing before they can perform work.


Dead time is a concern for developers and business owners alike. 

The increased time to find workers not only can set a project back by months—it also affects businesses' bottom lines because they have to pay more to obtain workers.​

Community Impact Newspaper
Austin-Round Rock
Economy
https://communityimpact.com/austin/development-construction/2017/03/27/austins-growth-driving-costs-labor/Read the full article at {Source}
$36M big splash as aquatics and fitness center opens$36M big splash as aquatics and fitness center openshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=161182017-03-29T05:00:00Z2017-03-29T21:00:00Z

​​​​McKINNEY – Apex Centre, located at 3003 Alma Rd., is open. 

The $36 million aquatics and fitness center in Gabe Nesbitt Community Park includes a 25-yard-by-25-meter pool for competitive and lap swimming, a leisure pool, and an outdoor leisure and recreation pool.

Apex Centre also includes a fitness facility, weight-training equipment, sports courts, an elevated track and babysitting facilities as well as multipurpose rooms that are open to the public.
Community Impact Newspaper
Dallas-Fort Worth-Arlington
Retail
https://communityimpact.com/local-news/dallas-fort-worth/mckinney/news/2017/03/15/36-million-aquatics-fitness-facility-apex-centre-now-open-mckinney/

​​Want more data? See DFW Overview Market Research. 

Read more at {Source}
ALN Austin February multifamily market dataALN Austin February multifamily market datahttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=161522017-03-29T05:00:00Z2017-03-29T21:00:00Z

​AUSTIN - ALN Apartment Data has released February 2017 apartment occupancy, units added and floor plan breakdowns for apartments.

​Needing other U.S. cities, check out ALN's monthly reports


ALN Apartment Data
Austin-Round Rock
Multifamily
https://assets.recenter.tamu.edu/Documents/MktResearch/Austin_ALN.pdf

​Want more info? See Austin Multifamily Market Research.

Read more at {Source}
Dallas-area housing price gainsDallas-area housing price gainshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=161902017-03-29T05:00:00Z2017-03-29T20:00:00Z

​​​​​DALLAS – Dallas-area home prices in January posted one of the highest annual gains in the country.

Dallas home prices were 8.2 percent higher than in January 2016, according to the latest Standard & Poor's/Case-Shiller Home Price Index.​

Nationwide, prices in January were up 5.9 percent from a year earlier.​​

Dallas-area home prices are at record levels in the Case-Shiller survey and are more than 50 percent greater than where they were at the worst of the recession in 2009.

Local home prices are about 33 percent ahead of where they were at the last housing market peak in Dallas in 2007.
Dallas Morning News
Dallas-Fort Worth-Arlington
Housing
http://www.dallasnews.com/business/real-estate/2017/03/28/dallas-area-home-prices-head-higher-case-shiller-report

​Want more​ data? See DFW Housing Market Research. 

Read more at the {Source}
Hybrid hotel-apartments 'WaterWalk' to IrvingHybrid hotel-apartments 'WaterWalk' to Irvinghttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=161922017-03-29T05:00:00Z2017-03-29T20:00:00Z

​​IRVING – Construction of the four-story, 153-unit WaterWalk Las Colinas​ is underway at 1701Royal Lane. The cost of construction only (not land or architecture design) is $17 million, according to TDLR​.

Las Colinas will be the second of multiple Texas locations, located in a prime location adjacent to DFW Airport at George Bush Turnpike and West Royal Lane. 

WaterWalk’s hybrid hotel and corporate lodging concept mirror a similar popular model well-known in Europe. 

The model provides added space typically seen in apartment homes with the combination of hotel services and offers an array of upscale amenities and features. 

The furnished and semi-furnished suites include: 
  • full-sized appliances in a modern kitchen; 
  • full-sized, in-suite washer/dryer; 
  • high-speed Internet; 
  • DirecTV with 300 channels and DVR;
  • fitness center; and 
  • bike storage and outdoor spaces with a fire pit and a relaxation pool. 
The full-service option also includes housekeeping and free, customized breakfast delivered weekly to each suite.
BusinessWire
Dallas-Fort Worth-Arlington
Hotel
http://www.businesswire.com/news/home/20170327005896/en/WaterWalk-Breaking-Ground-Texas-Property

​Want more ​data? See DFW Hotel Market Research. 

Read more at {Source}
First step to Chisholm Trail Ranch transformationFirst step to Chisholm Trail Ranch transformationhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=161942017-03-29T05:00:00Z2017-03-29T20:00:00Z

​​FORT WORTH – Chisholm Trail Ranch is part of the ongoing $1.4 billion transformation of Chisholm Trail Pkwy., which includes The Shops at Clearfork, a ​retail/restaurant/office center featuring the newly opened Neiman Marcus. 

The development will feature both commercial and residential components. 

It is the first new development to begin construction along the Chisholm Trail Pkwy. 

The 600-acre community will feature approximately 1,100 single-family residential homes, including 169 home sites in phase one.

In an area that is deemed “very affordable” and ten minutes from downtown Fort Worth, the Chisholm Trail Ranch corridor has desirability for those working professionals who don’t want a big commute.

The demographic especially targeted for this area are medical professionals such as nurses and pharmacists who work at Baylor Medical Center.

Progress is being made in completing its master-planned community of residential homes and commercial-retail properties here.

​Matt Robinson, general manager of Walton Development and Management, said “Affordability of between $250,000 and $400,000 is the range for these homes."
GlobeSt.com
Dallas-Fort Worth-Arlington
Housing
http://www.globest.com/sites/lisabrown/2017/03/27/chisholm-trail-offers-affordable-alternative/?channel=sectors&section=dallasfort-worth

​Want more ​data? See DFW Housing Market Research. 

Read more at {Source}
Sun rises on retail saleSun rises on retail salehttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=161572017-03-29T05:00:00Z2017-03-29T19:00:00Z
​​BROWNSVILLE – Sunrise Plaza, a 35,792-sf retail property, has sold.

The subject property is a mix of local and national tenants, with 51 percent of the income derived from national credit tenants. 

Sunrise Plaza is a 35,792-sf multi-tenant retail center located at 2451 Pablo Kisel Blvd. 

The center is currently 100 percent occupied, and all leases are triple-net. The building was constructed in 2002 and sits on 2.9 acres of land.

Marcus & Millichap announced the sale.
Citybizlist
Brownsville-Harlingen
Retail
http://houston.citybizlist.com/article/409465/marcus-millichap-arranges-the-sale-of-a-35792-sf-retail-property

​Wan​t more data? Check out Brownsville-Harlingen Overview Market Research. 

Read more at {Source}
Austin, DFW, Houston MM prices for MF transactionsAustin, DFW, Houston MM prices for MF transactionshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=161162017-03-28T05:00:00Z2017-03-28T23:40:00Z

​​​​​​TEXAS – Here is a look at recent multifamily transactions in DFW, Austin and Houston areas, according to ​Yardi Matrix.

​​​​​

Yardi Matrix
Texas
Multifamily
https://www.yardimatrix.com/Institutional-Research

​Interested in more information? Read the full reports here:​​​​​​​

Austin Multifamily Report

Dallas Multifamily Report, ​

Houston Multifamily Report

National Multifamily Report​. ​​

Source: {Source}
Historic Texas ranch used in movies up for grabsHistoric Texas ranch used in movies up for grabshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=161442017-03-28T05:00:00Z2017-03-28T23:30:00Z

​​​​​​YOUNG COUNTY – The 1,484-acre Wildcatter Ranch & Resort has hit the market.

The ranch and resort is 90 miles from Dallas-Fort Worth near the town of Graham.

Located on the Brazos River, the historic western-style property is its own little town, with 16 cabin suites, a 16-room hotel, a 15,436-sf main house, two two-bedroom homes, two horse barns, a 25,000-sf restaurant and an enclosed pavilion.

Wildcatter Ranch also has had film roles in movies including Lonesome Dove and The Sons of Katie Elder.

The ranch offers horseback riding, an archery range, a sporting clay shooting range, world-class fishing, a pool, a hot tub, a therapeutic spa and 25 miles of hiking and riding trails.

The ranch is currently listed at a sale price of $14.975 million.​



Dallas Morning News
Dallas-Fort Worth-Arlington
Land
http://www.dallasnews.com/business/real-estate/2017/03/22/north-texas-ranch-resort-grabs-northwest-fort-worthRead the full article at the {Source}
Is there an appetite for Downtown housing?Is there an appetite for Downtown housing?https://www.recenter.tamu.edu/news/newstalk-texas/?Item=161742017-03-28T05:00:00Z2017-03-28T23:25:00Z

​​​EL PASO – Downtown's housing market is still in its infancy, but strong leasing responses at recent additions has some hopeful of a future growth spurt.

New projects are filling up and have waiting lists, which positively shows other investors there is an appetite for Downtown housing.

In the past five years, 340 apartment units and nine upscale condos have been added to the Downtown area, including 41 units that have not yet opened.​

Here are the latest additions:

  • Martin Lofts, 217 N. Stanton; 40-unit; opened early 2016; fully leased; rents from $750 to $1,400;

  • ​Roderick Artspace Lofts, 601 N. Oregon; 51-unit; opened early 2017; rents from $239 to $722;​

  • Campbell Apartments, 501 S. Campbell​, most apartments leased; rents: $650 for a one bedroom, $825 for a two bedroom, $1,100 for a three bedroom; and

  • Savoy Lofts, 27-units, 120 S. Stanton, above Dollar Tree store, low-income units projected to open early April; 85-person waiting list; rents: $679 to $774.​
El Paso Times
El Paso
Multifamily
http://www.elpasotimes.com/story/news/2017/03/24/el-paso-downtown-housing-redevelopment/99468086/Read the full article at {Source}
Just released: Texas metro populations with 500,000 people and underJust released: Texas metro populations with 500,000 people and underhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=161582017-03-28T05:00:00Z2017-03-28T22:45:00Z

​​​TEXAS – The U.S. Census Bureau just released July 2016 estimates for 382 metros and 3,142 counties across the nation.​

Data include 2010-2016 population estimates for metros with a population under 500,000.

Check your county or metro from the entire list at the BOTTOM of the story by clicking here.


Houston Business Journal
Texas
Demographics & Population
http://www.bizjournals.com/houston/news/2017/03/23/houston-named-fastest-growing-metro-in-america-on.htmlRead the full article at the {Source}
Latest Houston Metro pops by countyLatest Houston Metro pops by countyhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=161322017-03-28T05:00:00Z2017-03-28T22:40:00Z

​​​​​HOUSTON METRO – Metro Houston added 125,005 residents in ’16, a 1.9 percent increase, to reach a total population of 6,772,470, according to the U.S. Census Bureau.1

Every Houston-area county experienced population growth in ’16. 

The majority of the growth occurred in Harris, Fort Bend and Montgomery counties, accounting for eight out of every ten new residents. Residents continued to favor the suburbs.

Houston had the second largest gain of any U.S. metro area.
 

The Dallas-Fort Worth metro led the nation in population growth adding 143,435 residents, a 2.0 percent increase. 

Phoenix came in third with 93,680, a 2.1 percent increase.

Last year, Houston added one new resident every 4.2 minutes as a result of: ​

  • 61,616 residents from net natural increase (102,152 births and 40,536 deaths)​
  • 63,090 residents from net in-migration (35,000 from around the world, 28,090 from across the U.S.)​​​​2
1 ​The population change is from July 1, 2014 to July 1, 2015. Metro Houston includes Austin, Brazoria, Chambers,
Fort Bend, Galveston, Harris, Liberty, Montgomery and Waller Counties. Population estimates for U.S. cities will be released in May 2017.
​2 The two components do not sum to the total growth due to rounding and residuals.

Additional details will be provided in the upcoming April issue of Houston: The Economy at a Glance.
Greater Houston Partnership
Houston-The Woodlands-Sugar Land
Demographics & Population
http://www.houston.org/pdf/research/narratives/population/population-update.pdfSource: {Source}
What were you doing during Spring Break?What were you doing during Spring Break?https://www.recenter.tamu.edu/news/newstalk-texas/?Item=161152017-03-28T05:00:00Z2017-03-28T22:40:00Z

​​​​​​​

LAREDO – Crowds of eager shoppers attended the first day of business at the 358,000-sf The Outlet Shoppes at Laredo at 1600 ​Water St.

The retail space is split between four colorful two-story buildings and a total of 52 stores, nine kiosks and the food court, which officially opened March 16, 2017.

Built along the Rio Grande and in the footprint of the old River Drive Mall in downtown Laredo, the outlet mall provides underground parking as well as an indoor and outdoor shopping experience.

Laredo Assistant City Manager Cynthia said the project provided 1,000 construction jobs and will generate 1,200 permanent retail jobs and another 1,600 seasonal jobs.

Chicago-based Horizon Group Properties Inc. and Chattanooga, Tennessee-based CBL & Associates Properties Inc. teamed up as developers for the $100 million project.

Laredo's outlet mall opened less than two weeks after another one opened near Corpus Christi​.

San Antonio Business Journal
San Antonio-New Braunfels
Retail
http://www.bizjournals.com/sanantonio/news/2017/03/16/the-outlet-shoppes-at-laredo-open-with-spring.htmlSource: {Source}
More people showed up than we expectedMore people showed up than we expectedhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=161452017-03-28T05:00:00Z2017-03-28T22:00:00Z

​​AUSTIN – In 2016, the Austin area added 159 people per day on average—that's the net gain, according to the latest data from the U.S. Census Bureau.

After taking into account 40,273 migrants, 27,375 births and 10,304 deaths, the regional population climbed by 58,301 to an estimated 2,056,405,

When just looking at migrants, about 110 people per day moved to the Austin area from July 1, 2015, to July 1, 2016.

The Austin metro—which includes Travis, Hays, Williamson, Burnet and Caldwell counties—expanded by 2.9 percent.

While that's the ninth-fastest rate of growth among U.S. metro areas, Austin is the fastest-growing metro of its size.


Meanwhile, Hays County to the south of Austin was the third-fastest growing county in the nation last year, expanding by 5.1 percent with the addition of 9,896 new residents.

For the most part, the growth is expected to keep coming—though perhaps at a slower pace than recent years.

Austin Business Journal
Austin-Round Rock
Demographics & Population
https://www.bizjournals.com/austin/news/2017/03/22/how-many-people-moved-to-austin-in-2016.htmlSource: {Source}
Not changing soon? Austin rental market's high demandNot changing soon? Austin rental market's high demandhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=161462017-03-28T05:00:00Z2017-03-28T21:50:00Z

​​AUSTIN – The Austin rental market is in high demand, and that's not going to change anytime soon.

A new report from online real estate investment firm HomeUnion has named Austin one of the most desirable rental markets in the U.S. for 2017.

Austin is No. 9 on the report's ranking of highest demand markets, which means it boasts some of the strongest supply and demand fundamentals in the nation.

"An influx of millennial job-seekers drawn to the low cost of living compared to coastal markets, combined with growth in internet and technology sector jobs, make Austin one of the most desirable metros for renters," says Steve Hovland, director of research at HomeUnion, in a release.

Here's what Austin renters can expect this year:

  • Single-family rental vacancy in Austin is expected to drop to 3.9 percent.​
  • Rents are expected to grow to $1,735 per month, up 2 percent from 2016.
  • Austin's year-over-year employment growth is projected at 3.6 percent, much higher than the national growth of 1.7 percent.
CultureMap Austin
Austin-Round Rock
Housing
http://austin.culturemap.com/news/real-estate/03-21-17-austin-hottest-rental-markets-america/Read more at the {Source}
Mixed-income community for Independence HeightsMixed-income community for Independence Heightshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=161622017-03-28T05:00:00Z2017-03-28T21:20:00Z

​​​​​HOUSTON – The Houston Housing Authority has broken ground on Independence Heights Apartments, the city agency's first new affordable housing project in a decade.

The city’s affordable housing agency is under construction on Independence Heights Apartments, a mixed-income community, located at 302 Crosstimbers St., in the Independence Heights neighborhood.

The garden-style apartments will offer 154 subsidized units.​

Units in Independence Heights Apartments are designated for eligible low-income renters, earning at most $41,500 a year and supported by a public housing voucher.

Construction is slated for completion by fall 2018.​

Leasing applications are expected to be open to the public by mid-2018.​
Houston Business Journal
Houston-The Woodlands-Sugar Land
Multifamily
http://www.bizjournals.com/houston/news/2017/03/23/affordable-apartment-project-breaks-ground-in.html

​Check out Houston Multifamily Market Research.

Read the full article at the {Source}
Pearland, Friendswood 2017 housing market data by ZIPPearland, Friendswood 2017 housing market data by ZIPhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=161792017-03-28T05:00:00Z2017-03-28T21:00:00Z

​​​PEARLAND | FRIENDSWOOD – The latest housing market data has been released by Community Impact Newspaper.​​

Community Impact Newspaper
Houston-The Woodlands-Sugar Land
Housing
https://communityimpact.com/houston/pearland-friendswood/housing-real-estate/2017/03/17/market-data-heres-pearland-friendswood-housing-market-february/

​Check out more Houston Housing Market Research.​

Read more at the {Source}
Cy-Fair 2017 housing market data by ZIPCy-Fair 2017 housing market data by ZIPhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=161772017-03-28T05:00:00Z2017-03-28T20:50:00Z

​CY-FAIR – The latest housing market data has been released by Community Impact Newspaper.​

Community Impact Newspaper
Houston-The Woodlands-Sugar Land
Housing
https://communityimpact.com/houston/cy-fair/housing-real-estate/2017/03/17/market-data-mar-2017-cyf/

​Check out more Houston Housing Market Research.

Source: {Source}
Downtown Houston Q4 2016 key market highlightsDowntown Houston Q4 2016 key market highlightshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=161662017-03-28T05:00:00Z2017-03-28T20:30:00Z

​​​HOUSTON – Downtown Houston has just released its Year-End 2016 Market Update.​​

According to the update, 2016 marked a year of unprecedented construction activity, with a total of 48 new projects (completed, under construction, and planned).

Seventeen new projects were completed including:
  • ​​1,555 residential units, 1,680 hotel rooms, 595,000 SF of office space, and 26 new restaurants.
Another 31 projects are underway or planned, bringing:
  • another 3,259 apartment units and condos downtown, 
  • 665 hotel rooms, 
  • 5.5 million sf of new office space, 
  • over 15 restaurants: and 
  • a new HISD magnet school, and two new parking garages.​
DowntownHouston.org
Houston-The Woodlands-Sugar Land
Market Overview
http://downtowndistrict.org/static/media/uploads/attachments/downtown_market_update_q416_eoy.pdf

​Check ​out more Houston Market Overview Research.

​See Downtown Houston Market Update Year-End 2016 (PDF)​.

Source: {Source}

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