Houston real estate 2014? Transwestern tells allHouston real estate 2014? Transwestern tells allhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=17792015-02-10T13:59:00Z2015-02-10T06:30:00Z

HOUSTON - For Houston, 2014 was a successful year for the metro’s economy, according to the Houston Metro Real Estate Outlook report from Transwestern.

The office market had a banner year with high leasing velocity and a significant number of preleased deliveries. Leasing activity is expected to weaken in 2015 as some businesses refrain from expanding in the current energy climate.

Net absorption of industrial space totaled 2.1 million sf in fourth quarter 2014, for a year-end total of 9.0 million sf. A decrease in demand is expected in 2015 as lower oil prices cause a slowdown in manufacturing, especially for oil field equipment.

The retail sector added 6,500 jobs over the 12 months ending in November. Retail vacancy was 7.7 percent for 4Q 2014, down significantly from 9.7 percent in 3Q. Throughout the year, grocery-anchored tenants had a dominant presence with more than 25 new stores opening, many in the suburbs.

Houston Market Indicators Year-End 2014*
Sector Inventory SF Available Vacancy Rate
4Q 2014
Net Absorption
4Q 2014
Net Absorption
Office** 228,569,000 21,816,976 9.5% 16,607,985 1,586,000 6,412,000
Industrial*** 466,656,871 20,080,427 4.3% 8,645,130 2,090,000 8,956,000

*Does not include buildings under construction or owned by the government.
**Includes buildings 50,000 sf and greater.
***Includes buildings 15,000 sf and greater.

Click here for the full Houston Metro Real Estate Outlook Year-End 2014 report from Transwestern.

See Office Report Dec. 2014 (Transwestern)

See Industrial Report Dec. 2014 (Transwestern)

See Multifamily Report Dec. 2014 (Transwestern)

Save time and effort! See Houston Market Data Sources for a variety of up-to-date stats.

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