According to a report released this week by McGraw-Hill Construction, construction in Texas is expected to rise in 2010.
The 2010 Texas Construction Outlook reports the value of construction starts in Texas will rise 16% to $52.5 billion. Also, growth is projected for 5 Texas cities: Austin 30%, Houston 17%, Dallas 16%, El Paso 8%, and San Antonio (6%).
The report says:
• Housing starts in Texas are expected to rise 31% to $21.8 billion
• Non-residential construction starts will slip 1% to $17.6 billion because of slight reductions in commercial and industrial real estate activity
• Federal stimulus funding will boost public works and utilities construction. Construction activity in this sector will rise to $13.1 billion in 2010, a 21% increase over last year.
(McGraw-Hill Construction has reported on real estate project and product information, plans and specifications, and industry news and forecasts for over a century.)
Hablamos español.
As an SRES® designee, I have received additional education on such topics as tax laws, probate, estate planning, equity conversion strategies, and can offer you information on current market trends as well as valuable resources regarding real estate transactions.
Howdy and Mornen Shirley
Sure sounds like The Grand State of Texas, is in for some good New Construction growth.
Shirley- We are so blessed to live in Texas.
As a direct lender, I'm thankful every day for our wonderful buyers and the ones who will be coming to our area soon.
We have JOBS to offer and excellent affordable housing.
Yeah!!!!
Me too Melissa, I just don't want Texas to grow too much!
Hi Dale, It looks that way. Thanks for stopping by.
Shirley
This is terrific for our industry. I hope it comes true! I need to make up for last year! :O)
Shirley - I'm sure that's it's one of the few places in the country where building is expected to increase.
Yhea! Go Texas, we need to get back to a good solid recovery. I think folks will be moving to TX just to get out of states that are in deep, deep trouble. First of all we need jobs that are good permanent jobs and here to stay. Folks need to get confident and look to the future and jobs will do that for sure.