It’s difficult to argue that Houston has seen anything other than several years of amazing growth. In 2011, the area started adding jobs at an increasing rate, ending year-over-year in November at a 4.4% growth rate. This translates to 125,300 jobs created in one year, with construction jobs posting a rate of 8.6%. While these latest figures are almost certain to be revised downward, it’s a testament to the astounding (and unsustainable) activity that has occurred in Houston in the past four years.
As we enter 2015, uncertainty has become the word circulated most often as the price of crude has dropped by nearly 50% in only a few short months, with the actual bottom and duration of falling prices remaining uncertain.
Source : Cushman & Wakefield