Texas Falls Behind New York in Commercial R.E. Development

Texas is home to half of the top 10 fastest growing cities in the United States, which puts it on the forefront of the economic recovery from the real estate burst of 2008. The state’s industry-friendly laws and lower jobless rates make it attractive for both families and businesses. The real estate market has been booming as a constant flow of hungry buyers move in. Investors and lenders like Pride of Austin Capital Partners reap the benefits as they help individuals and companies find their new home in Texas.

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Only recently, New York has taken the top spot for this country’s most active construction industry according to the Houston Chronicle. Before that, Texas held the spot for two years straight. This is for commercial construction only, which shows how industry is moving into the state.

The NAIOP Research Foundation’s 2012 report states that Texas created over 162,000 new jobs and $4.34 billion worth of new commercial real estate in the past year. Their report on the progress of industrial, office and retail property development had ranked Texas at the top the year before.

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