DFW Area on Track for 2015Posted: December 20, 2014 | |
DFW Area on Track for Increased Homebuilding in 2015
The Dallas-Fort Worth area should be the second busiest homebuilding market in the country in 2015, according to a new forecast. MetroStudy Inc predicts that only Houston will have more single-family home starts next year in a comparison of the country’s top building markets. D-FW home starts are forecast to top 28,000 units next year, compared with the Houston area’s more than 37,000 starts.
“Most of the other starts leaders in 2015 will be markets where builders can secure the raw material—labor, land, and materials—to start new projects,” MetroStudy reports. “Builders in Dallas are pushing their capacity as well, as they assemble more lots and struggle to find enough skilled workers to keep up with demand.”
- Dallas Morning News, November 10, 2014
Texas the Best State for Future Job Growth, Forbes says
Texas is the top state for its current economic climate and future job growth in Forbes’ annual Best States for Business study released this week. Texas has added 2.1 million jobs since 2000, more than twice as many as any other state, Forbes reports. Moody’s Analytics expects Texas to have an annual job growth rate of 2.7 percent over the next five years — the fastest in the nation — ranking it No. 1 on Forbes’ “Best States for Job Growth” list. Naturally, Forbes cites Texas’ pro-business environment and the energy industry for its impressive job growth. “Texas has done well primarily because it is an energy center. You really can’t get around that,” Edward Friedman, an economist who tracks Texas for Moody’s Analytics, told Forbes. “Every major energy and oil company has realized over the last 15 years that the only place to be is Houston.” Outside of Houston, Forbes cites Toyota Motor Corp.’s (NYSE: TM) new campus in Plano, Charles Schwab Corp. (NYSE: SCHW) moving jobs to Austin and El Paso, and Apple Inc.’s (Nasdaq: AAPL) expansion in Austin as other examples of the massive business investments in Texas. In addition to Texas’ impressive job growth, it also is expected to have the second-fastest economic growth rate over the next five years: 4.1 percent annually. However, the education rate of Texas’ workforce hurts it in the overall ranking. It has the second-lowest percentage of adults with a high school degree: 82 percent.
- Forbes, November 14, 2014