Houston CRE Growth to Continue in 2014

HOUSTON-During 2013, Houston’s metro economy continued improving, adding 80,700 jobs through August 2013 and increasing payroll employment by 3% during the same period. Experts at Transwestern’s annual TrendLines conference on Nov. 12 said jobs will continue to be added between now and 2015, which will bode well across all commercial real estate sectors during that same time period.

Following former Secretary of Education William Bennett’s keynote presentation, Greg Leisch, CEO of Transwestern research arm Delta Associates pointed out that the area’s energy, construction and transportation sectors are bolstering growth, while the leisure/hospitality sector is also expanding. As a result, 91,700 jobs will be added to the Houston economy over the next two-year period, which is comparable to the growth experienced during the last expansion cycle (2005-2007).