In the Houston Chronicle on Sunday, February 6, 2011, an article talked about a report in which experts are noticing several indications that the economy is rebounding.
"Overall, Houston seems to be improving gradually." said four experts consulted for the Chronicle's quarterly review of the area's financial health. The four — an economist, an oil and gas lawyer, a travel industry executive and a workplace development official — discussed the economic signals they're watching.
Greg Ortale, president and CEO of the Greater Houston Convention and Visitors Bureau, points to the improving health of the travel industry as a sign Houston is on the way back. "Hotel occupancy and gross revenue are up about 3 percent compared with a year ago; restaurants are also doing better. Travel is a leading indicator." he said. "When companies are spending money on hotels, airline tickets and other travel expenses, they're doing business."
Business is also improving. The article cites Robin Fredrickson, a merger and acquisitions lawyer who stated that businesses are increasing the amount of business deals they conduct. "Energy prices are stable, and the improving market encourages deal-making," Fredrickson said. "Buyers and sellers want to know what is happening in the market before they commit to a sale."
What does this mean to Pearland? Since Pearland is a suburb of Houston, when Houston's economy improves, so does Pearland. I have noticed several new businesses opening up in Pearland in the last quarter. This is great news since new businesses attract buyers and puts money back into our local economy!
Pearland Real Estate is also starting to pick up more now that the holidays are over. I have seen an increase in interest in the local Pearland real estate market among buyers and sellers.
I offer a no-obligation free market analysis to anyone interested in seeing what your home is worth as well as how your neighbor is fairing in the real estate market. To receive your's, email me or call me at 281-412-2022 today!
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It's good to hear that another major metro area (and its suburbs) are really turning around. With more spending and M&A comes more jobs and that'll translate into fewer foreclosures, more sales, and recovering prices.