If you are considering relocating to Texas, it may interest you to know that Houston real estate is a buyer’s market at this time. As we move into summer Houston, real estate generally starts seeing more sales, which is what we are seeing. With all the national market issues and the subprime mortgage crisis, there was some worry that the market would not heat up in the summer, but sales appear to increase. Buyers see much better deals than they saw this time last year.
Houston’s economic outlook generally mirrors the Texas forecast: local job and population growth outperform the national economy. The Texas Workforce Commission predicts 3.1% job growth, and the unemployment rate for December 2007 was estimated at 3.6%, down from 5.1% in the Austin area during October 2006.
Job growth is expected in Houston’s traditional vital employment areas, such as government, education, and health services. Houston is the state capital and seat of Travis County, which makes the government a significant employer. Houston’s local, state, and the federal government employs more than 150,000 workers, which is expected to increase. Houston will need more educators with the University of Texas and over twenty other colleges within 30 miles. Houston continues to employ many workers in the leisure and hospitality industry, and large healthcare employers are expected to add workers soon. With the high quality of life and the increasing population, Houston should see positive job growth through 2009.
Population growth in Houston is driven by the high quality of life in the region, with the area being ranked as a top destination for relocating singles and families. The quality of life and entertainment opportunities are another reason Houston is a bright and thriving city with diverse cultural scenes. Houston has theaters, live music venues, excellent restaurants, and unique shopping centers.
Buying and selling can be overwhelming, so an experienced realtor who will provide you with information but won’t pressure you is advisable. They currently have over 11,000 properties to choose from in the Houston area.