News Flash


Posted on: January 11, 2019

How Strong is Texas’ Economy?


| November 25, 2018

DALLAS—The major Texas markets are viewed very favorably in terms of near-term investment outlook. According to Emerging Trends in Real Estate: 2019, published by the Urban Land Institute and PWC, real estate investors favor markets with potential for more growth than the traditional gateway cities.

In the report, Dallas/Fort Worth was ranked number one, with potential for strong future growth but also with the liquidity of a gateway market. Austin ranked number six in the study while San Antonio ranked number 20. Houston ranked 37. The demographic breakdown of the region’s markets also is favorable with Austin, Dallas/Fort Worth, Houston and San Antonio all having a significantly higher percentage of a younger populationsupporting strong labor force growth and productivity.

“As a result, demand for housing in these Texas markets is expected to remain strong through 2019,” Dillon Cook, founding partner and COO with Range Realty Advisors LLC, tells “Housing demand continues to be fueled by relatively low interest rates, low unemployment and continued economic growth. Also, Millennial demand for housing in these Texas markets is expected to continue for many years as a growing share get married, attain higher income levels and have children.”

With regard to everyone’s burning need to pinpoint when the cycle will end, Range Realty Advisors points out that the ups and downs of economic cycles can vary substantially globally, regionally and by state. Cook says it is entirely possible that the next nationwide economic downturn will look and feel very different in Texas compared to other states.

In previous economic downturns, there have been several frequent causal factors. These include rampant speculative development, high inflation, loose lending practices, aggressive Fed intervention and international crises, to name a few, he says.

Fortunately, few of those causal factors are apparent today. An international trade war was looming but appears to be resolved at least with the US’ neighboring trade partners. While interest rates are gradually being ratcheted up, the Fed has been generally cautious and non-reactive. Speculative development is much less prevalent today than in past boom times–with many of Dallas/Fort Worth’s large office and industrial projects significantly leased up prior to construction.

Add to this strong economic and job growth, a high level of consumer confidence and business investment, and many believe Texas will continue to be a magnet for real estate investors and developers for years to come, says Range Realty Advisors.

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