While many parts of the country have not fully emerged from the housing crisis and recession, Texas continues on a tear with new building and thriving residential and commercial real estate markets.
Single-family home building rebounded dramatically in 2012 after a trough in 2011 and is on pace to gain this year while home sales also rebounded in 2012 from a 2010 trough, with more gains on pace this year, said Mark Dotzour, chief economist of the Real Estate Center at Texas A&M University.
The 2011 single-family housing market in Texas saw just 67,254 building permits issued, Dotzour notes. The next year permits were up to 81,926, and this year is apt to notch 90,000.
Read more...Texas construction booming on economic strength via Real Estate Center at Texas A&M