Retired Texas A&M real estate center economist Jim Gaines was again the keynote speaker at the annual Bryan/College Station chamber of commerce economic outlook conference.
Click HERE to read and download presentation materials.
Dr. Gaines said the pandemic has created two trends in the local construction of new housing.
The number of new multi family housing permits issued in 2021 was the lowest since 2009.
Meantime, the projected number of building permits for single family homes in College Station and Bryan in 2022 is projected to top 2,000 for the first time. That’s almost twice as many permits that were pulled four years ago. Gaines says the obstacles for reaching that projection are lots, labor, and materials.
Gaines also said homeowners who had been staying in their current homes for five to seven years are staying put an average of nine to 12 years.
His annual jobs update indicated the workforce in the Bryan-College Station area has almost returned to the level before the pandemic.
The real estate center reported last year compared to 2020, an increase of 1,000 leisure and hospitality jobs, 500 more jobs in the health services and education sector, another 500 jobs in the professional and business sector, and 400 more jobs in the construction, mining, and logging sector.
Click below for a sampling of comments from Jim Gaines during the chamber EOC on January 26, 2022.