Texas market news, May 2011
May 31, 2011Texas top site for California movers
According to new census data, Texas gained an estimated 61,270 residents in 2009 who said they had lived in California a year earlier. Texas netted the highest net migration among the 50 states away from the Golden State. Read the full story at The Orange County Register.
May 26, 2011Texas top state for job seekers
According to the Bureau of Labor Statistics, more jobs are being created in Texas than in any other state, adding 254,000 jobs from April 2010 to April 2011. Read more at MSN.com.
May 25, 2011Texas tops states in 10-year job growth
Texas has enjoyed an unequaled economic boom the last 10 years. The state added 732,000 private-sector jobs in the last decade. No other state registered an increase of more than 100,000 private-sector jobs during that period. Only 19 states and the District of Columbia posted any gains at all. Read more at The Business Journals.
May 24, 2011Texas foreclosure rate 6th lowest in U.S.
The Lone Star State now has the sixth lowest foreclosure rate in the country. Residential mortgage foreclosure rates continue to fall during the first quarter of 2011, dropping to 1.89% – well below the national average of 4.52%. Read the full story at DSNews.com.
May 23, 2011Abilene prices up, sales down
Abilene home sales decreased 10% in April 2011 compared to April 2010. During the same period, the median sales price increased to almost $113,000, up from $103,000 in 2010. Read more at KTSX.
May 20, 2011Texas foreclosures on the decline
According to a recent analysis by RealtyTrac, Texas foreclosures in April 2011 were down 20.2% compared to just one month prior. Compared to April 2010, Texas foreclosure activity was down 33.1%. Read the full story at the San Antonio Business Journal.
May 19, 2011Homebuyers flock to Harker Heights
The welcome mat is out for potential homebuyers in Harker Heights – a Central Texas city that has experienced little downturn in sales despite the housing slump seen in other parts of the nation. Low interest rates, appealing recreational activities, and a central location area are cited as lures to the city. Read more at the Killeen Daily Herald.
May 18, 2011Home sales booming in The Woodlands
The residential market is booming in The Woodlands, and if that pace continues, the community could have one of its best years for new home sales since 2006 and potentially Number one in new home sales in the Houston area for 2011. Read more at The Conroe Courier.
May 13, 2011Texas joins 12 nations with trillion-dollar economies
While only 12 nations have economies valued at more than $1 trillion, they are not alone at the summit of financial power. According to the World Bank, Texas, California, and New York also have economies worth more than $1 trillion. The gross state product for Texas is $1.14 trillion. Read more at the Austin Business Journal.
May 12, 2011Texas has some of the best wages in the South
A recent study conducted by The Business Journals ranks Dallas, Austin, and Houston as the third, fifth, and sixth-best cities for job wages in the southern U.S. Read more at The Business Journals.
May 11, 2011El Paso economy rumbles back
El Paso’s economy is on the rebound, courtesy of the booming maquiladora business in neighboring Juarez, which directly impacts plant production in El Paso. El Paso’s trade with Mexico, which increased to $69 billion last year, now outpaces every other point of entry in the state. Read the full story at the Houston Chronicle.
May 10, 2011Texas named best for business for seventh consecutive year
Texas has been ranked the top state for job growth and business development for the seventh year in a row by Chief Executive Magazine. In a survey of CEOs, Texas was noted to have all of the areas important for business creation and was applauded for its low tax burden and robust job creation compared to other states. Read more at Chief Executive Magazine.
May 9, 2011Lubbock's economic index slips
The Lubbock Economic Index slipped 1.5% from March 2010 due to substantial declines in the construction and housing market. Despite the decrease, high points in the report include retail, auto, and cotton sales. Read the full story at the Lubbock Avalanche-Journal.
May 6, 2011Houston wage gains best in the U.S.
In a nationwide study conducted by the U.S. Bureau of Labor Statistics, Houston had the highest percentage of wage increases in March 2010. Its 3.7% wage gain is double the national average of 1.6%. Read more at the Houston Business Journal.
May 4, 2011Houston-area foreclosures rise for second month, but at slower pace
While the number of Harris County foreclosures rose again in March, foreclosures are still almost 21% less than the same time last year. Read more at the Houston Business Journal.
May 3, 2011Cropland demand soars
While land prices appear to have stabilized statewide following a swoon in 2009, the biggest demand is in a land market segment that's usually considered somewhat dull: agriculture. Crop land in some areas, such as the section of the Hill Country between San Antonio and Fredericksburg, saw the number of sales rise by double-digit percentages in the past year. Read more at the San Antonio Express-News.
May 2, 2011Unlike other states, Texas home prices on the increase
The median price of existing single-family homes increased 1.3% in the first quarter of 2011 compared to the same period last year, shows the latest Texas Quarterly Housing Report issued by the Texas Association of REALTORS®. Analysts say the modest price increase is confirmation that Texas continues to emerge from the national recession in a better position than other states. Read the news release on PR Newswire.
Residential listings from Texas REALTORS® across the state.