Law and Practice:
General
Main Sources of Law
In Texas, the main sources of real estate law include state statutes, case law (i.e., court decisions), and administrative regulations. Key statutes include the Texas Property Code, which addresses a wide range of property issues including ownership, land use, and landlord-tenant relationships. These laws are supplemented by common law principles that have evolved through case law over time. Additionally, Texas real estate practices are influenced by federal laws in areas such as fair housing, and financing and federal and state laws on environmental regulation. Local ordinances also play a significant role, particularly in zoning, building codes, and property taxes.
Main Market Trends and Deals
The Texas commercial real estate market in 2024 has demonstrated a mix of resilience and challenges influenced by various economic factors and regional differences.
Trends and Developments:
Over the past 12 months, Texas cities like Dallas, Houston, and Austin have continued to showcase significant urban growth, while also observing dynamics of population and business dispersal in various neighbourhoods. This multi-faceted urban development scenario reflects broader trends impacting Texas’s major metropolitan areas, influenced by factors such as migration patterns, economic policies, and housing market dynamics.
