HOUSTON--According to Houston-based real estate valuation and counseling firm Deal Sikes & Associates, the current sharp decline in oil prices won't have an immediate impact on real estate values in Texas.

Prices for West Texas Intermediate oil, over $100 per barrel earlier this year, have fallen sharply, dropping below $80 a barrel this fall.

“The fundamentals of Texas real estate remain strong and this retreat in oil prices will not deflate realty markets,” says Matthew Deal, principal of Deal Sikes & Associates. “Texas has more commercial real estate projects under construction than almost any place in the world, but many of these developments have tenants committed to pay sizable rents.”