You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
2014 housing trends<br />
corporate<br />
housing<br />
Good News! According to the<br />
Urban Land Institute, Houston has been<br />
ranked #2 as the real estate market<br />
to watch in 2014. So what is driving<br />
this and what can we expect for real<br />
estate trends in 2014 in Houston and<br />
surrounding areas?<br />
One of the biggest markets that<br />
real estate investors watch is where<br />
the Millennial Generation is moving.<br />
They are expected to continue heading<br />
to second-tier cities such as Austin,<br />
Portland & Dallas over traditional cities<br />
like New York City and San Francisco.<br />
These second-tier cities tend to have<br />
more housing deals making prospects<br />
for real estate investors more attracted<br />
to cities such as San Jose, Miami and<br />
Houston. The real estate recovery<br />
always hinges on job growth. Texas<br />
continues to have consistent growth<br />
while other states face continuing<br />
challenges.<br />
During the recent recession<br />
there were noticeable demands<br />
for apartments, this was due to<br />
homeowners who turned renters.<br />
This created a surge in multi-family<br />
developments, perhaps maybe even<br />
some over building occurred, which<br />
would lead to a slow-down of new<br />
multi-family construction.<br />
Another area of housing that is<br />
expected to be slower than normal is<br />
condo development. With the recovery<br />
of the condominium market and the<br />
over development of apartments,<br />
we may see some rental apartment<br />
properties switching to condos in the<br />
next 12-16 months. These properties<br />
also accommodate the continued<br />
demand for urban development.<br />
The increased interest in urban over<br />
suburban developments are expected<br />
to continue in most cities where<br />
amenities and public transportation are<br />
available.<br />
It is predicted that 2014 will be the<br />
last year that low inventory will aid<br />
sellers and allow for increased pricing to<br />
slow down. Within some hot real estate<br />
markets like Houston, the distressed<br />
property inventory has been drying<br />
up allowing sellers to squeeze eager<br />
investors and buyers for better profits.<br />
In 2013 there was a sense of urgency<br />
from buyers and investors trying to<br />
take advantage of low mortgage rates<br />
and affordable housing. With the<br />
limited housing availability, many areas<br />
experienced double-digit increases in<br />
home prices, however this is expected<br />
to correct itself in 2014 with most<br />
markets only rising 3-6 percent in 2014.<br />
service solutions<br />
relocation<br />
services<br />
housing<br />
solutions<br />
temporary<br />
furnished<br />
lodging<br />
Tina Clarke<br />
CHSRS<br />
ABOUT THE AUTHOR<br />
Tina Clarke is the Global Mobility Director with<br />
CHSRS corporate housing solutions. With over<br />
20 years of sales leadership, customer service<br />
and marketing experience she is focused<br />
on strengthening hte CHSRS brand both domestically<br />
and globally by insuring the success<br />
and satisfaction of her clients. She can be<br />
reached at (713) 204-2300 or tina@chsrs.com<br />
Be seen. Be heard.<br />
713-204-2300<br />
www.CHSRS.com<br />
onthetown 25<br />
OTT Texas JanFeb Issue.indd 25<br />
1/28/2014 1:24:02 PM
Change language