By: Walter Bialas
There is a lot of press about the impressive economic growth happening in Texas and Dallas-Fort Worth. While we tend to focus on jobs as the bottom line, metro area Gross Domestic Product (GDP) is another metric that showcases our market.
Research Analyst Sam Wood pulled together the chart below that looked at GDP over the long-term. Overall, the take away is that the North Texas economic engine continues to be robust. Since 2001, DFW has seen economic growth 37% above the US average – and that includes one of the most severe recessions for DFW – the tech / telecom bust. Looking more recently, since 2009, DFW has grown at close to twice the US average.
In this instance, we have benefited from a mild local recession during the housing bubble because there was very little speculation here like in many markets – and we have had very little, if any, impact from the recent energy price declines.