Texas CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Real Estate Center: Pace and Strength of TX Recovery are “Unknown”
Texas economic activity contracted sharply in the second quarter due to COVID-19 shelter-in-place restrictions, but then rebounded as the economy re-opened during May and June, the Real Estate Center at Texas A&M reported.
“Putting the health crisis in a historical context, neither the Great Depression nor the Great Recession nor any other recession over the past two centuries caused such a steep economic decline,” according to Real Estate Center economists. “The strength and pace of the recovery are unknown because they depend on health outcomes that allow or impede the complete re-opening of the economy.”
Construction activity is expected to improve in the coming months after reaching a trough in May, as indicated by the Texas Nonresidential Construction Leading Indicator. However, the Real Estate Center says that nonresidential construction leading indexes by MSA for the commercial sector indicate “a slowdown in construction activity going forward.”
For comments, questions or concerns, please contact Paul Bubny
- ◦Economy
- ◦Development
