Notes:
*All data and upside/downside commentary courtesy the Meyer’s Group
*Demand/Supply Ratio (1.0 plus — Job-growth-driven-demand exceeds permit supply; 0 to .99 — Supply exceeds demand; less than 0 — Negative job growth)
*Illustrations by John Mattos
Strong labor pool … good population growth … home price appreciation remains strong … in-migration consistent … government job cuts complete … demand for residential product expected to remain strong.
Downside
Manufacturing base deteriorating … single-family permits to remain steady … multifamily permits to drop off … overall economy is stalled … job cuts expected.
Single-family permit issuance strong … price appreciation steady, but slow … tourist activity consistent … no major land and environmental barriers to growth.
Downside
Possible drop in appreciation rates … high levels of single-family permits may lead to oversupply … highly sensitive to national economy … multifamily permits waning.
Affordable housing and low cost of doing business … favorable migration and population trends … bio-tech capital of Texas … single-family permit issuance remains steady.
Downside
Burgeoning remodeling market … stiff competition from the Austin and Dallas economies … low industrial diversity.
Strong price appreciation … low housing inventory … high housing equity build-up … healthy population growth … permit issuance remains strong.
Downside
Weak employment growth … limited supply of developable land … rapid price appreciation erodes affordability … weak commercial markets.
Strong employment growth expected … increasing baby boomer demand for second homes and retirement housing … rising rates should fuel demand for multifamily product.
Downside
Rapid price appreciation negatively affecting affordable housing … declining supply of developable land … tourism sector weak … supply/demand ratio not expected to increase.
