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News – Austin

* This news feed is generated through NewsTalk Texas, provided by the Real Estate Center at Texas A&M University

​​​​Visit San Antonio logo.SAN ANTONIO – The hospitality industry saw significant gains in economic impact, visitor and employment numbers from 2015 to 2017, according to the results of a study released recently at the Visit San Antonio Annual Meeting. However, latest Texas Workforce Commission (TWC) data compiled by the Real Estate Center show some cooling in that industry.

Research by Trinity University professors Dr. Richard V. Butler and Dr. Mary E. Stefl showed the economic impact of the hospitality industry in 2017 was $15.2 billion, an increase of $1.6 billion in two years.

The metro welcomed 37 million visitors in 2017, 7.3 million more than in 2015. Of the 37 million annual visitors, 30.4 million come for leisure travel. A total of 23.1 million were overnight visitors.​

The report showed that the hospitality industry employs 140,188 individuals, or one out of every seven employed in the area. That’s an increase of approximately 9,400 workers from 2015.​

Employment growth in the city's leisure and hospitality sector has shown recent signs of slowing, though. TWC data for October 2018 show the employment growth rate for that industry in San Antonio had a year-over-year drop of .88 percent.

​​​​​Aerial view of Lantana Place.AUSTIN – The next wave of tenants has been announced for the $80 million mixed-use development Lantana Place at Southwest Pkwy. and W. William Cannon Dr.

Tenants include Bella Spa, Cobalt Blue Salon, Carve American Grille, Enamel Dental, Lone Star Eye, Marigold Market, Realty Austin, Scissors & Scotch, and Westlake Dermatology.

These tenants will join MovieHouse & Eatery, which opened in May, and a boutique Marriott AC hotel, which is scheduled to begin construction in spring 2019.

At buildout, Lantana Place is expected to have 320,000 sf, including 60,000 sf of shops and restaurants.​

Stratus Properties Inc. is developing the property.​

​​DALLAS-FORT WORTH-ARLINGTON – Area home prices were up almost 5.7 percent in the latest nationwide comparison by CoreLogic.

October's year-over-year price gain in the Dallas area was slightly ahead of the 5.4 percent nationwide gain.

But prices in North Texas, which have moderated this year, aren't growing nearly as fast as in booming home markets including Las Vegas (up 12.6 percent from last year) and San Francisco (up 8.3 percent).

Sales and price increases in North Texas have slowed in 2018 after several years of increasing purchases.

Total North Texas home sales so far in 2018 are unchanged from this time in 2017. 

Median home sales prices in North Texas have risen by more than 40 percent in the last five years. 

CoreLogic estimates that home prices are now overvalued in more than a third of U.S. markets, including Dallas.​