The Latest on Housing in HoustonFeb 23, 2017
After successfully selling out of our first project outside of Utah, FIG is excited to launch another project in the Houston, Texas market! If you compare Houston to other markets where FIG operates, it’s absolutely gigantic! And this sprawling urban area continues to expand.
Even with lagging energy prices over the last few years, Houston has marched forward due to a diversified economy and inflating population. On average, 200 people a day move to the Houston metropolitan area! And this pattern of steady growth is expected to continue. In this climate of expansion, it's necessary that an increase in housing keeps up with the rising demand. Therefore, there's never been a better time to invest in this Texas Promised Land.
The Latest on the Houston Economy and Housing Market
The Houston economy has rebounded through surging oil prices and is projected to propel forward fed by a constant infusion of growth across diversified sectors. A recent article from the Houston Chronicle quoted University of Houston Economist Bill Gilmer in saying that when it comes to the real estate market and energy prices, “We have turned the corner.”
New residents keep pouring in, forecasting sunny times ahead for the future housing scene. The Houston Association of Realtors (HAR) published an article showing that townhome and condominium leases have increased six percent! It's evident that this Texas rental market is ripe with the need for more property to lease.
FIG’s new project, The Village at Parkway Lakes, is located in the Katy/Richmond area on the west side of the metro. It's a safe and quiet suburban community great for raising kids. Many families that relocate to Houston for work end up loving the area, primarily because of the schools.
In fact, a quick glance over the scores from Great Schools shows that most of the schools in this area get a rating of 10 out of 10, the lowest only getting an 8! This is an area where people want to live, an area where people want to stay and let their kids grow up. FIG is positioned to participate in providing high-quality housing options for this swelling pool of settling families.