Fort Worth’s real estate market is coming out of the beginning of the COVID-19 pandemic better than the industry anticipated.
Karen Vermaire Fox, president of the Real Estate Council of Greater Fort Worth, is seeing that reality through projects on the ground.
“Luckily for us, we’ve had tourism that’s come back, and that tourism has put things like the convention center back on the market again, which we really need, which is going to help us grow,” Fox said.
What does that success mean for 2023? More than 500 people are expected to discuss that question Jan. 19 during the Real Estate Council of Greater Fort Worth’s Real Estate Forecast event at the Fort Worth Convention Center. The Fort Worth Report is the media sponsor of the event.
Five experts in real estate sectors including commercial, office and multifamily will summarize what happened in 2022 and offer predictions for the year.
Fox said one of the predictions last year was that offices would make a comeback. Traditionally, the office forecast section of the event is typically the most anticipated forecast at the event, she said. Growth in the office sector was at the core of the 2022 forecast.
If you go
What: Real Estate Council of Greater Fort Worth’s Real Estate Forecast
Time: 7-11:30 a.m.
Date: Thursday, Jan. 19
Location: Fort Worth Convention Center, 120 Houston St.
For more information on the schedule, click here.
“Back in the day, you would do office last because you wanted everybody to stay for the whole forecast,” Fox said.
Now, the schedule has changed. The industrial market is last, Fox said.
Ben Loughry, principal at the private equity firm Overwatch Fund, will present on capital markets and private equity. Last year was active, Loughry said, because interest rates were relatively low until June, when investors started seeing pullbacks. He predicted higher interest rates last year.
“They escalated more and faster than what I anticipated though,” Loughry said.
Loughry said he will be addressing real estate investments in rough economic times.
“Most importantly, there will be opportunities,” Loughry said.
Seth Bodine is a business and economic development reporter for the Fort Worth Report. Contact him at seth.bodine@fortworthreport.org and follow on Twitter at @sbodine120.
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