Business Services Industry
Job Growth Pivotal to Home Sales in Houston.
Knight Ridder/Tribune Business News, January, 2004
By Ralph Bivins, Houston Chronicle Knight Ridder/Tribune Business News
Jan. 7--Houston builders are not expected to match in 2004 the record-setting sales pace of last year, but they won't be in the poorhouse either.
New-home sales in Houston, after hitting a record of 36,300 in 2003, could be down as much as 10 percent this year, but the reduction will likely be less, housing analyst Mike Inselmann of Metrostudy said.
"2004 will be a very robust year for home builders in the Houston area," Inselmann said in an annual forecast to the Greater Houston Builders Association.
For home sales to match last year's pace, job growth will have to pick up significantly, Inselmann said. Houston lost about 1,000 jobs last year. But if the...
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