Houston is hot, economically speakingHouston is hot, economically speakinghttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=89462012-11-27T07:22:00Z2012-11-27T00:00:00Z

HOUSTON - Transwestern's annual Trendlines reflected Houston’s economic strength. Here’s a recap of what was said.

Economic growth — Houston’s economy added nearly 90,000 jobs and employment rose by 3.5 percent in 2012.

Infrastructure — The Panama Canal expansion in 2015 will increase investment in the Port of Houston and if the airports can obtain Latin American routes, activity could increase.

Office — Net absorption to date is 2.9 million sf. The overall vacancy rate is 10.9 percent, and rents have increased 2.4 percent. The office sector should continue to expand as the construction pipeline is active.

Industrial — The overall vacancy rate stands at 4.6 percent with net absorption totaling 3.3 million sf through the first three quarters of 2012. Though speculative development is underway with continued growth anticipated, global economic uncertainty could put a damper on this sector.

Multifamily — This sector continues to expand, thanks to the region's high growth rate. Net absorption during a 12-month period ending June 2012 was approximately 17,275 units, with vacancy standing at 7.4 percent. Rents are anticipated to increase modestly through the remainder of this year and into 2013.

Retail sector — As the economy keeps growing, retail keeps strengthening, with an overall vacancy rate of 11.2 percent as of 2Q 2012. Vacancy should remain steady or even decline for the remainder of the year and into 2013.

Read more at GlobeSt.com

Houston-The Woodlands-Sugar Land
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