RECON for April 27, 2021RECON for April 27, 20212021-04-27T05:00:00Z2021-04-27T05:00:00Z
Texas capitol building as viewed by the street
According to a survey by CraftJack, over half of Americans living in cities would move if given the opportunity to work from home permanently. Texas ranked as the trendiest state for relocation. How do the state's major metros stack up? Keep reading today's RECON for the details. (Photo from Center files.)
April 27, 2021

Texas jobless claims tumble for the third straight week

COLLEGE STATION (Texas Real Estate Research Center) – Initial jobless claims in Texas decreased significantly the week ending April 17​​​​​, falling around 21,000 claims to 43,500.

This is the second straight week of significant drops in new claims.

​​About 4.99 million unemplo​​yment claims have​​​ been filed since​ March 21, 2020, according to U.S. Department​ of Labor (DOL) data. 

Continuing unemployment claims increased ​to​ 295,300 the week ending April 10.

Despite the drop in new claims, the levels of both initial and continuing claims remain high, according to Dr. Luis Torres, a research economist for the Texas Real Estate Research Center. 

The number of workers receiving benefits through the pandemic unemployment assistance program, which is open to gig workers and others who don’t typically receive benefits, increased the week ending April 17.​​​​

​Last week, U.S. initial claims decreased to 547,200, the lowest level of the pandemic. This brings the 57-week total to 80.2 million. 

"Increasing vaccination rates should lead to a faster recovery in the leisure and hospitality sector, possibly creating a wave of hiring that would allow thousands of laid-off workers to find jobs," said Torres.

Healthcare and social assistance registered the highest number of initial claims the week ending April 10. The sector was followed by retail trade, administrative/support/waste management/remediation services, and educational services.
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Texas cities top destinations for remote work

EVANSTON, Ill. (CraftJack) – According to a CraftJack study, 61 percent of Americans living in cities would move if given the opportunity to work remotely. Texas ranked first as the trendiest state to move to. 

Austin was the trendiest city for relocation. Dallas-Fort Worth ranked sixth on tha​t list. 

On the list of most desired destinations​, DFW, Austin, and Houston ranked ninth, 12th, and 18th, respectively. 

According to the report, since the onset of the pandemic, some people found they like their city better than before.​ Houston and Dallas-Fort Worth ranked eighth and tenth on that ranking, respectively. ​

The most desired location for Houstonians to move to is Austin. Austinites would most like to move to Dallas-Fort Worth, and residents of DFW would like to move to Seattle.

Desire for a bigger, better home and lower cost of living were the top reasons for moving. 
Sketchy drawing of commercial buildingsThe Texas Real Estate Research Center's Texas Quarterly Commercial Report looks at past, present, and future commercial real estate activity in the state's four major metropolitan areas. It covers the office, retail, and warehouse sectors. Read and download the report for free, and subscribe to know when the next issue is published. 

Royal Oaks Centre trades hands

HOUSTON (Houston Business Journal) – ​Woodland Hills, Calif.-based Younan Properties has purchased Royal Oaks Centre, an office property at 11490 Westheimer Rd.

The three-acre complex includes a ten-story, 232,000-sf office building; seven-story, 722-spot parking garage; and additional parking. ​

Built in 1983 and renovated in 2013, the office building offers​ 23,201-sf floor plates with 12-ft ceilings. Amenities include a 40-seat conference center and putting green. 

The seller, Hertz Investment Group, purchased the property, then known as Westchase Park Plaza, in 2018. 
NewsTalk Texas logoHungry for more Texas real estate news? Then feast your eyes on NewsTalk Texas, our online news database. Here are a few of the stories you'll find there this week: NewsTalk Texas is updated each weekday, throughout the day. 

Coal-fired electric station getting update

GRIMES COUNTY (REBusiness Online) – A subsidiary of Charah Solutions has purchased the 6,166-acre Gibbons Creek Steam Electric Station & Reservoir in Grimes County, 20 miles east of College Station. 

The new ownership plans to redevelop the property to support solar, battery, and energy storage uses and will wo​rk with the Texas Commission on Environmental Quality to complete all environmental remediation required for the property. 

Avison Young advised the buyer in the deal.
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Independent Financial obtains 17 acres adjacent to Craig Ranch HQ

​​​McKINNEY (Connect Media) – Independent Financial has purchased 17 acres adjacent to its current headquarters at McKinney Corporate Center Craig Ranch, bringing its corporate campus to nearly 30 acres. 

The move sets up the institution for future expansion with the ability to develop two to three additional office buildings.

Craig International represented the landlord, McKinney Joint Venture, an affiliate of KOAR Institutional Advisors.
Communication Matters video seriesThe Texas Real Estate Research Center's Texas Home Price Index measures price appreciation changes for residential single-family homes. It provides data for eight different Texas metros across three different price ranges.

TruAmerica buys 344-unit apartment complex

​​AUSTIN (Austin Business Journal) – TruAmerica Multifamily has acquired Ellie Apartments, a 344-unit complex at 2900 Sunridge Dr. 

The property, forme​rly known as Mission Hills Apartments, has one- and two-bedroom units. 

Amenities include a clubhouse, fitness center, pool, and dog park. 

Newmark represented the seller, a partnership between Origin Investments and F&B Capital.
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Material herein is published according to the fair-use doctrine of U.S. copyright laws related to non-profit, educational institutions. Items attributed to sources other than the Texas Real Estate Research Center at Texas A&M University should not be reprinted without permission of the original source. To send news items for consideration, e-mail Hayley Rieder. The Texas Real Estate Research Center is part of Mays Business School at Texas A&M University in College Station - the heart of the Research Valley.


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