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Real Estate Houston Texas - Real Estate in Houston,Texas Holding Steady in Recession

commercial residential market houston’s

Houston is very attractive to all comers looking for affordable residential or commercial real estate. Just build it and they will come. That has been the underlying residential and commercial development philosophy of Houston builders and developers for the past three decades.

Since the early 1980’s, the real estate market in Houston, Texas has been very consistent and affordable while the construction industry remains very strong until 2009. This was due to Houston’s natural population growth and population growth through net positive migration of 150,000 permanent residents almost overnight from Hurricane Katrina and Hurricane Rita hitting the Gulf Coast.

Since 2002, Houston’s residential real estate market never experienced the meteoric price inflations similar to California, Arizona or Virginia. Although homes in prestigious neighborhoods like River Oaks and West University (within a 5 mile radius of downtown) have appreciated significantly (quadrupled in the last 30 years), the significant development of master-planned communities within a 20 mile radius have kept up an adequate housing supply and pricing levels flat. With major residential communities on all sides (The Woodlands -north, Tomball – northwest, Katy – west, Sugarland – southwest, Pearland & Friendswood – south, Baytown – east, and Kingwood & Humble – northeast), Houston has grown outwardly in concentric circles. The big secret is that people can still find comfortable homes new and used for around $150,000 within 20 miles of downtown in any direction.

The Houston’s commercial real estate market is another story altogether. Houston is long known as the strip center capital of the South. With an over-supply of vacant office and retail space due to recession, there is cabundant opportunity to find affordable commercial space as well. With commercial real estate projects slowing and values declining in recent years, real estate investors are finding more buying opportunities in the current environment.

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