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Winning Streak Continues: Houston Home Sales Up in January

HOUSTON – Following up on the strongest year ever for home sales in Houston, the winning streak continues in the new year with single-family sales rising in January 2017. The Houston Association of Realtors reported 4,080 single-family homes were sold in January, up 1.7 percent from the 4,011 sold in January of 2016. Last month was the second-best January in ... Read More »

Houston Could Be Headed for “Golden Era of Growth” – Tyler Mathisen Tells Colliers

HOUSTON – Stronger oil prices and the Trump administration’s pro-energy stance could be very good for the Houston economy, says financial broadcast journalist Tyler Mathisen. Mathisen, keynote speaker at Colliers International’s Trends 2017 event at the Houston Country Club Tuesday night, said President Donald Trump is putting pro-growth stamp on the nation in his first days in office. Trump completely ... Read More »

In the Wake of Exxon Mobil’s Departure: Pain Felt; Patience Required

HOUSTON – (By Ralph Bivins) – On June 7, 2011, Exxon Mobil formally announced what Houston’s real estate community already knew – the energy firm purchased 385 acres for a 3 million square-foot campus north of Houston. Everybody knew the new campus would reshape the Houston real estate market. But the Houston real estate market was so strong, there wasn’t ... Read More »

New Houston REIT to Own Greenway Plaza and Other Major Buildings in Wake of Cousins/Parkway Merger

HOUSTON – Cousins Properties and Parkway Properties – two large REITs with significant Houston holdings – have agreed to merge and spin-off a new REIT of Houston office towers. In a deal slated to close at year-end, Atlanta-based Cousins will acquire Orlando-based Parkway for $2 billion, paid in stock. The new Houston REIT will own five Houston office properties with ... Read More »

Digesting Houston’s Oversupply of Office Space May Take Years

  (By Ralph Bivins, Editor of Realty News Report.) There is no quick fix. The oversupply of office space in the Energy Corridor sector of west Houston is not going to be digested soon. The sublease belly-ache won’t pass overnight. The office market is fine in some parts of Houston. For the most part, the trouble is centered in the ... Read More »

Oil’s Impact on Houston Hotel Development: The Q&A with Randy McCaslin

Houston’s lodging sector remains relatively strong, particularly with billions in petrochemical plants under construction in East Houston, expansions at the Texas Medical Center, last year’s opening of the Southwest Airlines International terminal at Hobby Airport and the 2016 NCAA Men’s Final Four. Next year Houston hosts the Super Bowl, which will further buoy the hospitality market. Where is the hotel ... Read More »

CBRE: Houston Office Vacancy Up Sharply Over Last 12 Months

HOUSTON – The Houston office market, under pressure with a decline in the energy industry, has seen a sharp increase in office vacancy space and the trends point to more vacancies for the rest of the year, according to a first quarter report from the CBRE real estate firm. The citywide office vacancy rate hit 14.3 percent in the first ... Read More »

Houston Homebuilding: Land Sales Down 44 Percent in The Woodlands and Bridgeland

HOUSTON – Land sales are down 44 percent in two Houston communities – The Woodlands and Bridgeland – because the economy has softened, the Howard Hughes Corp. reports. Howard Hughes Corp., the owner of the two communities, disclosed the slippage in its annual earnings report comparing 2015 totals versus 2014. “An uncertain economic climate in the greater Houston area due ... Read More »

Trends in Houston Real Estate Values: Q&A with Mark Sikes of Deal Sikes & Associates

Houston is in transition. Future growth and heavy traffic demand attention from the public sector and civic leaders. Meanwhile, the Houston’s real estate markets normalize after a robust run since recovering from the Great Recession.  With the energy industry in a slowdown, some say Houston’s office and multifamily sectors are overbuilt.  Real estate appraiser and consultant Mark O. Sikes constantly ... Read More »

Q&A with David Songy, Developer of Two New Hotels in Houston’s Galleria Area

HOUSTON – Showing its confidence in the Houston lodging market, Atlanta-based commercial real estate firm Songy Highroads, LLC has opened not one but two hotels in the city over the past several months. The properties – the 325-room Hyatt Regency Houston Galleria and the 157-room, select-service Hyatt Place Houston Galleria, are part of a 7.6-acre mixed-use development. On strong a ... Read More »

Houston Home Sales Down 2 Percent in January

HOUSTON — Houston home sales were down 2 percent in January, compared to January of last year, despite a sluggish local economy, reports the Houston Association of Realtors reports. January single-family home sales were down 2.1 percent versus January 2015 with a total of 4,024 sales compared to 4,109 a year earlier, HAR reported. Homes in the upper-price brackets showed ... Read More »

A Mild Dip Ahead for Houston in 2016: Q&A with Dr. Ted C. Jones of Stewart Title

With oil prices continuing on a downward spiral, how will Houston residential real estate fare?  Will home prices plunge? Stay steady? Increase a little? What about home sales?  Coming off two record years, will Houston see a dramatic drop in single-family transactions?  To find out what may be in store on the Space City home front, Realty News Report talked ... Read More »

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