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2024 Texas Real Estate Forecast predicts more inventory, increased rents

​COLLEGE STATION – More single-family homes and office spaces are expected to be delivered across the state in 2024, according to a new report by the Texas Real Estate Research Cent​​er.

The center’s 2024 Texas Real Estate Forecast examines big-picture trends that may affect the market.

Highlights from the report include:

Residential market

Single-family inventory is expected to increase with construction projected to reach prepandemic levels.Single-family prices are expected to remain near $340,000.Multifamily rent is expected to grow 2.5 percent over the previous year.

Commercial market

Office space inventory is expected to increase with deliveries expected to surpass 2023 levels.Retail rents are expected to end the year up 2 percent.

Industrial market

Statewide inventory is expected to increase between 1.5 and 3 percent.Industrial rents are expected to continue increasing but at a slower pace than 2023.​​