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Bayou Business Download: Housing in Houston, A Look at the Single-Family and Multi-Family Market

Published Sep 02, 2021 by A.J. Mistretta


real estate

In this episode of Bayou Business Download, we discuss Houston area housing markets. Following a boom year for single-family home sales in 2020, how is 2021 shaping up and what are the forces affecting the trajectory of the market?

Meanwhile, what's the outlook for the multi-family apartment market where developers have delivered tens of thousands of new units in recent years just as the region is dealing with the coronavirus pandemic? 

We're joined once again today by Partnership Senior Vice President of Research Patrick Jankowski for this conversation. We will also cover: 

  • Changes in home values across the region 
  • The effect of supply chain issues on new construction 
  • The effect of a weak jobs recovery 

 

Get the latest home sales figures and additional data. 

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Economic Development

Houston’s 90th-Minute Play to Host 2026 World Cup

8/25/21
The world’s most popular sporting event is coming to North America in 2026, and Houston’s on a mission to be one of the cities to host it. With viewership for the last FIFA World Cup of more than 3.5 billion, the quadrennial event is one of the most-watched and highly anticipated events for soccer enthusiasts. The 2026 World Cup will be hosted in 16 cities across Canada, Mexico and the United States. Currently, 17 cities in the U.S. are vying for a spot. Only 11 will win the bid to host 60 official matches. Houston’s 2026 World Cup Bid Committee, dedicated to bringing the World Cup to Houston under the direction of the Harris County – Houston Sports Authority, continues to push for making Houston a host city. According to Committee President Chris Canetti, hosting six games at NRG Stadium would be equivalent to hosting six Super Bowls. Experts estimate hosting the major event could mean a $1.3 billion economic impact for Houston. In an event hosted by the Partnership in 2019, Canetti said Houston’s diversity makes the city a strong contender to secure a spot. “Soccer is indeed the world’s game, and Houston is the most ethnically diverse city in the country. So some might say it’s a perfect match.” The Federal International Football Association, FIFA, is expected to visit Houston in the coming months as an important step in deciding host venues. The Art of Soccer is one of the Houston committee’s latest campaigns. The project invited companies to financially back the bid in a fun and creative way by collaborating with Houston artists to decorate soccer balls. Similar to a soccer match approaching the final 90th-minute mark, this initiative is one of Houston's final plays to host the 2026 World Cup. Joseph Macas is one of those artists. He’s an instructor at the Houston School of Art & Design. We chatted with Macas about the soccer ball he decorated for the campaign.  How did you become a part of the Art of Soccer project? As an instructor for the Houston School of Art & Design, the school has been involved with painting some of the soccer balls for various clients: Enbridge, Region’s Bank, Intel, NRG/Reliant and Sugar Land. When the Chevron Houston Marathon inquired about having their soccer ball painted, my supervisor Amber Cleveland informed them that I am going to run in the 2022 Houston Chevron Marathon. They thought that it would be awesome for me to paint the ball as both an artist and marathon runner.  I had already been painting soccer balls under the artist Amy Malkan and Shell.  I was already signed up and training for the Houston Marathon before the client came to the school. I was super excited to be able to work and design a soccer ball of my own. It just felt like the perfect fit. How was this project important to you on a personal and professional level? I would say that this was my first big project outside of teaching. Professionally, this was a huge step towards working for larger clients. This project really gave me the platform to showcase some of my abilities to design and paint. On a personal level, it's just been amazing to work on something for the city, especially in relation to the World Cup. All my friends in Houston are excited about it and my parents are proud that my artwork is being showcased. I'm just grateful to be part of the experience of it all and contribute. What inspired your artwork for this project? After talking with the client, we agreed on the theme of running around the world. We used the soccer ball as a giant globe. Medals are placed to showcase where major marathons are run across the world and are connected by footsteps.  I think it was very important for those viewing the soccer ball to be able to say, "hey there's my home country," and then follow the footsteps around the world. Moreover, I think it was important that the trajectory of the footsteps resemble a heartbeat to signify the connection that we share through sports. Showcasing Houston, they are crossing the finish line at the Chevron Houston Marathon. As a native Houstonian, how would you pitch Houston's pitch to FIFA? We've got beer, brisket and bodies of water. What more can you ask for?  Learn more about the Art of Soccer project and explore Houston’s arts and culture scene. 
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Living In Houston

Top Things to Do in Houston Outside the Loop

8/12/21
It's no secret that the nation's 4th largest city offers world-class cultural experiences and amenities. But when considering things to do in Houston, we often think inside the I-610 Loop that surrounds the urban core. Yet there is so much more to explore beyond the Loop!  The Houston suburbs are one-of-a-kind communities with unique activities all their own. Here are just a few places to explore outside of the Loop.  Have a Blast at Space Center Houston Space Center Houston is consistently rated as one of the top attractions in Houston, and for good reason. The museum gives visitors an in-depth look at the science and history of space travel, hosting more than 400 artifacts and one-of-a-kind experiences. Here you can touch a moon rock, get an up-close look at a rocket and even take a tram tour to NASA’s Johnson Space Center where visitors get a behind-the-scenes look at Mission Control, the astronaut training facility and much more.  While in the Clear Lake area keep the fun going and head to the waterfront city of Kemah for dinner at one of the multiple restaurants that overlook Galveston Bay, shop for unique gifts and art at the local shops, and for a little carnival fun walk over to the famous Kemah Boardwalk. With rides ranging from the classic carousel to the thrilling Board Walk Beast, an exhilarating speed boat ride that takes you out on the bay, there is a ride for you no matter what your thrill-seeking speed.  Explore the Great Outdoors at Brazos Bend State Park  Brazos Bend State Park is a nature lover’s paradise. Located just 45 miles from Downtown Houston, Brazos Bend has over 37 miles of trails that range from paved and wheelchair-friendly to primitive trails that take you deep into the forest. Stop by the Nature Center before you hit the trails to learn more about the park’s three ecosystems and its many residents, including the over 250 alligators that call the park home.  Be sure to pack a picnic dinner for some amazing sunset views. Once the sun sets and those big Texas stars appear, head to the George Observatory for an out-of-this-world experience. Located in the heart of Brazos Bend, the George Observatory’s observation deck allows guests to get an up close view of the heavens while learning from the in-house astronomers.  Take Your Tastebuds on Vacay in Asiatown  As the most diverse city in the U.S., Houston boasts some pretty amazing food from all over the world, and the gastronomical experiences in Houston’s Asiatown are near the top on the list. Located in Southwest Houston, influences in this area come from India, Korea, China, Thailand, Vietnam and many other nations. Local restauranteurs bring their culture to the dinner table with amazing dishes from Korean bar-b-que and Viet Cajun crawfish to dumplings and everything in between. Our advice? Don't fill up too much at one restaurant, but instead take a tour of what the area has to offer and sample just a little bit it all.  Take a Trip to Texas’ Past at George Ranch Historical Park Just 30 miles from Downtown Houston, in Richmond, TX, George Ranch Historical Park takes visitors on a trip through time to discover what life was like in Texas 100 years ago. Sitting on 20,000 acres, George Historical Park is a history lesson come to life. The park features historic homes, costumed interpreters, hands-on activities, live cattle working, blacksmithing demonstrations and much more.  After your visit, take a stroll through Richmond’s historic downtown. There you will find unique shops and restaurants that help give Richmond a distinct identity all its own.  Explore a Museum that Digs Deep  Looking for something a little different than your average science or art museum? The National Museum of Funeral History has you covered. Located in North Houston, 20 minutes from Downtown, visitors can explore the nation’s largest authentic collection of historical funeral items, including artifacts from past U.S. Presidents, Popes and celebrities, all while learning about the science and history behind the world’s oldest cultural ritual.  After visiting the museum, head about 10 miles north to one of the Houston region’s hidden gems—Old Town Spring. Once a 19th century railroad hub, Old Town Spring now offers guests an authentic experience with over 100 family-owned storefronts, including sundries, artisan crafted woodwork and jewelry, art galleries and more. And you better come hungry because Old Town Spring has something for every palette, including breweries, fine dining and of course Texas BBQ.  Learn more about Living in Houston. Explore some budget-friendly things to do around Houston here.
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The Houston DiverseCity Summit will inspire action to advance equity and inclusion in the greater Houston region. The Summit offers content for companies and organizations of all sizes with a focus on best practices…

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