Great news for Houston real estate! According to an article published by the Houston Business Journal, the Houston recovery has begun. The Greater Houston Partnership has just released a report in which it says that economic activity will improve during the first half of 2010. The report by the Partnership says that by the end of this year that Houston will have a net gain of 1,900 jobs.
So what will drive the growth in 2010? According to the article, a demand for chemicals and plastic products used in construction and manufacturing will be a big factor in driving the growth. The article also points to the whole sale trade sector, which it says will add 5,200 jobs, as well as a net gain of jobs in health care, food services, administrative and support services, which is expected to add 5,400 new jobs.
This is all great news for the Houston economy. I think we will be seeing more and more reports like this as the economy here continues to rebound. From a real estate and relocation perspective, it is always great news for us when the economic forecast improves. It promotes a climate in which people are more likely to relocate to Houston and purchase homes.
All-in-all, the Houston economy lost 93,000 jobs during fiscal year 2009, but this drop, although dramatic for Houston, was mild in comparison to other major metropolitan areas that were harder hit by the recession, many of which incurred six-figure plus job losses.
To read the article, please click here: Report: Houston Jobs Outlook to Improve
