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Austin top 2020 real estate prospectAustin top 2020 real estate prospecthttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=231252019-09-19T05:00:00Z2019-09-20T17:00:00Z

​​​WASHINGTON – ​​Austin has ranked first nation​ally for overall real estate prospects for 2020 in the Urban Land Institute's (ULI) Emerging Trends in Real Estate ​report.​

The Texas capital's "deep talent pool, unique lifestyle, and ambitious commitment to business and real estate expansion" pushed the city up from sixth place a year ago.

According to ULI, transaction activity in Austin is above what is expected from a market of its size, and 2019’s early results are above the three-year historical average. Survey respondents rate Austin a "solid buy" for industrial, offices, and apartments for the coming year.​​

Austin's challenges include traffic and housing affordability pressures.

Austin ranked sixth overall in homebuilding prospects​.

​Dallas-Fort Worth also landed in the top ten, ranking sixth in overall real estate prospects and ninth in homebuilding prospects.

The Metroplex's development growth to the outer perimeter keeps land costs down but challenges efforts to develop the downtown areas​ as 24-hour or even 18-hour urban centers. 

Texas' property tax may face upward pressure to sustain infrastructure growth. 

​Houston ranked third in homebuilding prospects. It was 42nd in overall real estate prospects.

The rest of ULI's top ten real estate prospects are:

  • ​No. 2 Raleigh-Durham, N.C.;

  • No. 3 Nashville, Tenn.;

  • No. 4 Charlotte, N.C.;

  • No. 5 Boston;

  • No. 7 Orlando, Fla.;

  • No. 8 Atlanta;

  • No. 9 Los Angeles; and

  • No. 10 Seattle.

Urban Land Institute
Austin-Round Rock
Housing
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