HOUSTON – Marcus & Millichap, which has a track record for accurate economic forecasting, is projecting Houston will gain 50,000 new jobs in 2015.
While the drop in oil prices and the layoffs in the energy industry has sobered the Houston economic outlook, the realty market has held up fairly well in 2015. The dire forecasts of local economists just aren’t playing out.
Marcus & Millichap in its Retail Research Market Overview said retail center construction will remain modest this year and shopping center rents will rise 2.7 percent.
Editor’s Comment: In the past, the California-based Marcus & Millichap realty firm has been amazingly accurate in its jobs forecasts, while Houston economists have been way off.