High Demand and Growth Mark Turbulent Year in Bryan-College Station Economy | Local news



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The Texas A&M Hotel and Conference Center had its best year in 2021, said general manager Greg Stafford, after the shortage of travelers in 2020 forced staff layoffs. Hiring staff after business returned became difficult, as did finding adequate supplies for the facility, Stafford said.

“What will often happen is that a truck will appear… and 20% of the things you ordered are not on it,” he said.

Jim Gaines, chief economist at the Texas A&M Real Estate Research Center, said growth and development have been stable over the past two years at Bryan-College Station. One of the biggest changes has been the shortage of homes for sale, with sales up 17% and buyers bidding above asking, pushing home prices up nearly 14%.

“The number of active listings is down, and drastically down, almost half of what it was a year ago, and sales continue to increase,” he said. “You have a tight seller’s market, if you sell your house you are probably going to get a really good price for it. “

Apartment complexes have increased rents by 15% to 20%, said Gaines, who expects the trend to continue in 2022.

“There has probably been a small slowdown in the construction of apartments. Part of the supply chain is lengthening the time needed, as well as the labor issue, ”he said. “They don’t have enough skilled labor to raise them almost as fast as they did two or three years ago.

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