By Jim McAlister IV, President & Chief Executive Officer
Our core business is to provide entitlement and development-ready land to homebuilders and others in the major Texas cities. As droves of people continue to move to Texas, the opportunities for our investment partners are increasing daily.
Although much has been written by the liberal media as to the demise of the conservatively run Texas economy with oil dropping from $100 to $50 a barrel in the past year, sometimes facts can be stubborn things:
- July 2015 single-family home sales in Houston totaled 8,147 units, the highest one-month volume ever, according to a report published in August by the Houston Association of Realtors (HAR). The average price of a single-family home was also up 6.3 percent year-over-year.
- The Emerging Trends in Real Estate® 2016 report continues the good news. All of the major cities in Texas better known as the “Texas Triangle” were ranked in the top seven of 75 U.S. markets ranked for homebuilding:
Dallas/Fort Worth 1
San Antonio 7
The report is an annual publication from PricewaterhouseCoopers and the Urban Land Institute (ULI) with a 34-year history and is one of the most highly regarded and widely read real estate industry trend reports every year. The report provides an outlook on real estate investment and development trends, real estate finance and capital markets, property sectors, metropolitan areas, and other real estate issues. Click here to view the full report.
Employers and employees alike continue to vote with their feet (and moving vans) for the business-friendly Texas model of low regulation, low taxes and self-reliance. This has created a favorable high demand and low supply of quality finished residential lots in the market.
There is no better time to invest alongside a 40-year local market expert like Rockspring that can help navigate around the right submarkets and properties.