According to a recent report from Community Impact Newspaper, the capital industry in Houston - its oil and gas sector - is improving significantly, which could aid the local real estate market.
Increased regulations for drilling imposed by the U.S. government has hurt the sector in many regions, however, Houston's market has withstood the fluctuations.
"Houston is the petroleum and natural gas center of the world," Darrell Cherry, president of the Texas Gas Association, which represents natural gas companies in Texas, told the news source. "Houston is growing, and part of that is from the oil and gas industry. My gut feeling [of why oil and gas companies are expanding in the suburbs] is people want to have the convenience of having all the city things, but they don't want to be in the middle of 3.5 million people."
The region's oil and gas sector is so strong that ExxonMobil recently announced its plans to consolidate its Houston-area offices at a larger campus, expected to be built in 2015.
With the sector flourishing, the Houston real estate market can continue to improve as well, as more workers will be able to afford properties in the region.
Courtesy of 2M Realty News