With Houston’s booming economy expected to generate approximately 117,000 new jobs in 2013, possibly the most sizable gain since the 1980s, nearly all sectors of the local economy have been experiencing increased activity. The multifamily sector is no exception.
According to a recent Marcus & Millichap report, multifamily property sales in the Houston metro area rose 40 percent in 2012, exceeding the metro’s prior peak by a wide margin. First quarter data is incomplete due to a lag in reporting, but the running year-to-date count has already exceeded the total for the same period in 2012.
Read more...Booming Local Economy Draws Buyers to Houston Multifamily Properties | Commercial Property Executive