Houston is one of the top real estate markets to watch nationwide, a new report says.
The Urban Land Institute and PwC US on Oct. 17 released the Emerging Trends in Real Estate 2013 report. In terms of real estate investment prospect, Houston jumped from the No. 8 place last year to No. 5 this year, driven by energy-related employment. Half of those surveyed said the main buying opportunities in the Houston market are in the industrial sector.
The Austin and Dallas-Fort Worth markets also made the list.
Austin took the No. 4 spot due to its growing population driven by the “echo boomer” demographic. Dallas-Fort Worth ranked No. 9 due to its strong job creation — second only to Houston — and diversified job base.
The other markets in the top 10 were San Francisco; New York; San Jose, Calif.; Boston; Seattle; Washington, D.C.; and Orange County, Calif.
“With the outlook for commercial real estate continuing to improve in 2013, investors are expected to allocate substantial sums of capital to the real estate asset class, according to our survey respondents,” Mitch Roschelle, partner and U.S. real estate advisory practice leader at PwC, said in the Oct. 17 statement.