Real Estate Market Update – February 2017
The slow recovery of oil prices coupled with the slashing of capital expenditures resulted in some stabilization in the oil and gas sector in 2016. Massive layoffs appear to have come to an end, but there remains plenty of opportunity for mergers and acquisitions in the industry going forward. This begs the question “Is the worst over?”
Perhaps it is. There appears to have been an uptick in real estate activity across the board in the last quarter of 2016. Capital spending by the sector is increasing and drilling activity across North America is gaining momentum. It still will take some time for this activity to translate to a demand upswing in real estate markets, particularly those markets that are extremely reliant on oil and gas activity.
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