Texas commercial real estate markets have for the most part dodged the bullet of lower oil and gas prices, a new analysts report says. Dallas in particular has seen either low or no impact from the cutbacks in the state’s energy sector, according to the new report by Morningstar Credit Ratings LLC. “The oil market has had a tempered effect across the Texas commercial real estate property market as a result of the state’s diversified economic base,” Morningstar analyst Stephanie Mah writes. “While pockets of vulnerability are surfacing in the Houston multifamily and office markets, commercial real estate in Dallas and San Antonio has remained relatively unscathed. “Morningstar Credit Ratings LLC expects Dallas and San Antonio to remain fairly insulated from the oil decline aftershocks,” the report says. “The recent rebound in crude-oil prices should mitigate potential further deterioration.” While Texas lost almost 34,000 energy sector jobs in 2015 and more cutbacks have been announced this year, Morningstar’s analysts are relatively optimistic about the state’s real estate markets.
from Deborah Laza, Ebby Halliday Realtors http://ift.tt/1rzFAjc
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