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Houston Plunges In ULI Rankings Of Top US Real Estate Markets

Low oil prices and rising layoffs sent the region spiraling to 30th in the nation, just a year after it topped the Urban Land Institute’s industry survey.



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Last year, Houston topped the Urban Land Institute's list of U.S. markets to watch.

The ULI took that survey when crude oil was still trading at roughly $100 a barrel. With the drop in oil prices, Houston has plummeted from number one to number 30. That makes it the worst performer among Texas metro areas on the list.

Dallas/Fort Worth took the top spot, Austin ranked second, while San Antonio came in at number 20.

"I think the perception of the other Texas cities is that they have a more diverse economy," says ULI executive vice president Kathleen Carey. "So they will be impacted, certainly, by what happens in oil prices, but perhaps not as significantly as what we're seeing in Houston."

Respondents to the survey named job growth the main issue they consider when looking at a potential real estate market.

"If you look at a place like Dallas, they are still creating jobs at a healthy rate," Carey says.

The latest numbers from the Texas Workforce Commission show Greater Houston has lost more than 22,000 jobs since the first of the year.

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Andrew Schneider

Andrew Schneider

Politics and Government Reporter

Andrew Schneider is the senior reporter for politics and government at Houston Public Media, NPR's affiliate station in Houston, Texas. In this capacity, he heads the station's coverage of national, state, and local elections. He also reports on major policy issues before the Texas Legislature and county and city governments...

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