BREAKING NEWS

Swimming Pools Make a Splash in Home Values

Principal Asset Acquires 2 Million SF

Houston Market Gains Momentum in May

Swift Packing Plant Redo in The Heights

Transwestern Sells Office Building

Austin Tops Graduate Friendly List

REALTY NEWS REPORT - Logo

Downtown Houston
RNR-RalphBivinsProject-Interviews
  • Home
  • Categories
    • Breaking News
    • Houston
    • Residential
    • New Development
    • People
    • Office
    • Multi-Family
    • Capital Markets
    • Texas
    • Retail
    • Hospitality
    • Industrial
    • Land
    • Lease Brief
    • Medical
    • National
    • Realty News Report
    • Trades
    • Uncategorized
  • Archive
  • Subscribe
  • The Ralph Bivins Project
  • About
  • Contact
FacebookLinkedinYoutubeEmail
REALTY NEWS REPORT - Logo

Houston Gains 125,000 Jobs – Best Job Growth Since 1981

by Realty News ReportDecember 22, 2014
Share0
Ralph Bivins, Editor, RealtyNewsReport
Ralph Bivins, Editor, RealtyNewsReport

HOUSTON – Don’t write off the Houston economy just yet.

Demonstrating the healthiest hiring pattern in 33 years, Houston created 125,300 jobs in the last 12 months.

It was the strongest job growth for Houston since August 1981 when 127,700 jobs were added.

Over the last year, Houston’s strongest sectors for hiring were energy and construction. Houston has been leading the nation in job growth in recent years.

A remarkable drop in oil prices generated widespread concern about the Texas economy this fall. West Texas Intermediate, priced over $107 a barrel in the summer, fell sharply this fall and went below $55 a barrel late last week. Drillers are expected to cut back spending in 2015 and oil patch layoffs are forecasted. Wall Street security analysts are anxious about companies with major exposure in Houston and some REIT stocks have been downgraded.

But the Houston economy is not going to suddenly skid from 100 miles per hour to 10 MPH.

Houston overall economy – and its realty markets have been showing incredible strength in 2014. Houston’s inventory of single-family homes for sale is near a record-low, only a 2.7 months supply. When the annual sales results are tallied Houston is expected to have more than 91,000 home sales this year – the highest sales total ever.

And the office market is tight. Houston’s huge Energy Corridor submarket, where 16 office projects are under construction, has a Class A vacancy rate of only 2.6 percent.

Houston’s industrial market is very strong and has a shortage of crane-served industrial buildings, says industrial developer Welcome Wilson Jr. of the Welcome Group.

“Low oil prices are temporary, and with the backlog of industrial activity in Houston, we can coast through it,” Wilson said at the recent BoyarMiller forecast breakfast.

Overall, the Houston area economy had 4.4 percent employment growth for the 12 months ending in November, according to the Texas Workforce Commission.

The rest of Texas is doing fine, as well. The Dallas/Fort Worth ranked second, adding 111,500 jobs, followed by San Antonio with 29,100 jobs and Austin had over 28,000.

Without a doubt, falling oil prices will put a dent in the Texas economy in 2015. But Texas has been shining brighter than any other state this year and even with a little tarnish in 2015, the Lone State State economy will still be better than most.

By Ralph Bivins – Editor, RealtyNewsReport.com

 

Share0
previous post
Stewart Title Extends Big Lease in Cousins’ Post Oak Central Complex in Houston
next post
Transwestern/Amstar Developing Multifamily in San Antonio

Related posts

Swimming Pools Make a Splash in Home Values

Realty News ReportJune 16, 2025

Principal Asset Acquires 2 Million SF

Realty News ReportJune 12, 2025

Houston Market Gains Momentum in May

Realty News ReportJune 12, 2025

1 comment

Houston Gains 125,000 Jobs – Best Job Growth Since 1981 (Realty News Report) « HARtbeat December 23, 2014 at 3:09 pm

[…] Click Here to Continue Reading […]

Reply

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

Search News

CommGate
new version
ECD-RealtyNewsReport-Ad-300x250
Partners Ad
CBRE Ad
Arch Con Corporation Ad
Hines Ad
Avera Ad
RNR Ad 030124
Ziegler Cooper Ad
Lee & Associates Ad
2021 Realty News Report Ad
RNR - Lincoln Property Company
Hal Gordon - Property Tax Lawyer
Hunington Ad
230725-RNR_Digital-Ad_Red
Hunington Ad

Let's Connect

logo
About US
Author Ralph Bivins is editor of Realty News Report, which covers regional and national news. Bivins recently received the Gold Award for Best Column in the National Association of Real Estate Editors Journalism Competition. Contact us
Follow us
FacebookLinkedinYoutubeEmail
@2022 All Right Reserved. Powered by CGS Digital Marketing
REALTY NEWS REPORT - Logo
FacebookLinkedinYoutubeEmail
  • Home
  • Categories
    • Breaking News
    • Houston
    • Residential
    • New Development
    • People
    • Office
    • Multi-Family
    • Capital Markets
    • Texas
    • Retail
    • Hospitality
    • Industrial
    • Land
    • Lease Brief
    • Medical
    • National
    • Realty News Report
    • Trades
    • Uncategorized
  • Archive
  • Subscribe
  • The Ralph Bivins Project
  • About
  • Contact