A recent report from the Houston Association of Realtors revealed optimism among the region's land brokers has risen lately.In its inaugural quarterly commercial land broker sentiment survey, HAR's Commercial Division relayed that responding brokers have agreed the region's future land sales have a positive outlook.
In all, the brokers rated eight different land types and descriptions on a scale between 0 and 100. Overall, the company's Land Sentiment Index settled at 78.
Since the report is the first conducted by the company, trends are tough to decipher, HAR relays. However, future LSI calculations should effectively gauge the Houston real estate market landscape and its changing expectations.
The current high level of optimism can be attributed to the region's job sector, according to one expert.
"Due to an improved employment picture in the Houston area, there is a renewed interest on the part of users and developers to get involved in new projects," said Carlos Bujosa, vice president of General Brokerage Services at Transwestern. "We've seen an uptick in activity compared to 2010 in practically every sector of the land market. Lenders are coming back into the market, but they are being much more selective."
Courtesy of 2M Realty News
Source: http://www.houstonrealestatejournal.com/houston-land-brokers-maintain-optimism/
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