Happy New Year! With 2013 setting record highs for real estate in Houston, the conversation that I’ve had multiple times in the past month has been consistently, “What can we expect from 2014?”
Unfortunately, time is linear, and the magic 8-ball on my desk has gone kaput. But with over a decade of experience in real estate, I can make some educated guesses. Short of a natural / national disaster, I feel fairly confident that our economy, and thus the real estate market, will stay strong for 2014.
Our job market has been one of the best in the country for the past several years. Although all good things will eventually come to an end, Houston is still anticipating a similar rate of growth for the next 12 months or so. Home prices will continue to rise, especially in the Heights and inner loop.
Apartment builds are scheduled to continue, struggling to meet the demand of new residents that will be brought here by new job creations. Since retail typically lags behind new home development, we’re going to see an increase in shopping centers. We’re also expecting more hotel construction throughout the city.
At Circa, we had a record year in sales, and I’m sure you saw record value in your home. If you want to take advantage of the hot home market, feel free to give me a call at 713-398-8719.