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Texas Named Top Commercial Real Estate Market in 2011

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In a recent study analyzing the effectiveness of commercial real estate markets throughout the United States during the year 2011, Texas came away the clear-cut leader of the market. The Lone Star State posted the strongest amount of spending in pre-construction, construction, and post-construction in all categories of commercial real estate.

Texas was ranked second after 2010, but its performance in 2011 was unmatched. That state’s commercial real estate activity exceeded two hundred and fifty billion dollars. Its total growth amounted to more than twelve percent year-over-year, as the state experienced its first increase since 2007.

With a construction spending increase by twelve percent, Texas’s commercial real estate market was responsible for the creation of two million jobs nationwide. That number is expected to grow in 2012, as the market continues to show significant improvement.

Following Texas in the rankings was New York, California, Arizona, and Utah. Florida also was not far behind, largely due in part to the success of the Miami market.

Despite the increase in numbers, some economists are still skeptical about the commercial real estate sector. Most studies compare to the previous year’s results. While the information is accurate, it is also very limited. Many economists believe that a more effective and telling study would compare the numbers to how the commercial real estate sector fared in 2007 when the market was at its peak.

 

It should not come as a surprise that Texas is leading the nation in commercial real estate results, as it has become a hotbed for technology and energy companies.

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About Drew Wilson

Drew focuses on the Commercial and Mortgage/Finance categories.

One Response to “Texas Named Top Commercial Real Estate Market in 2011”

  1. David Kurtz says:

    Congrats, Texas!

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