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Houston ranks No. 2 in housing markets to watch in 2014

Houston ranks No. 2 in housing markets to watch in 2014
The Houston real estate market has been elevated to one of the top spots for market growth next year.A recent report listed the Houston real estate market as one of the top 5 housing markets analysts should keep an eye on in 2014, especially as home prices and sales continue to make notable gains.The Urban Land Institute released the results of its annual Emerging Trends in Real Estate report, and moved Houston, Texas to the No. 2 spot, up from fifth place in last year's survey. The report cited the thriving city's potential for investment and home building as factors that will continue to drive growth in the market. The city falls only behind San Francisco, which was listed as the top market for the second consecutive year. Dallas-Fort Worth, Texas also earned an elevated outlook for 2014, moving up to No. 5 from last year's No. 9 ranking.The report also found that some big-name cities - such as New York City and Washington, D.C. - are seeing declines in investment, with more money going toward secondary markets, such as Dallas, Austin and Portland. However, job growth will play a large role in how well secondary markets perform, with many construction companies and developers seeing notable gains in those local markets with strong economies, Dallas News reports. In the Dallas area, for instance, the strong economy and employment opportunities have led to a surge in new apartment development.Real Estate News brought to you by 2M Realty, a true expert in the online real estate market.
The News Staff

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