News around Texas, November 2011
Nov. 30, 2011
Central Texas home prices jump in OctoberMarking the fifth straight month in which home sales volume outpaced the prior year, demand for real estate continues to drive the economic recovery in Austin. Sales of existing homes in Central Texas shot up 19% in October compared to the same month last year, while the median price declined 3%, to $189,720, according to the latest monthly figures from the Austin Board of REALTORS®. Read more at the Austin American-Statesman.
Nov. 30, 2011
San Antonio home prices drop modestly in OctoberAccording to the latest analysis by the San Antonio Board of REALTORS®, both the average and the median price of a home in greater San Antonio were on the decline between October 2010 and October 2011. While it was the first price drop of the year, the slide was not significant as both median and average price only decreased about 1%. Read more at San Antonio Business Journal.
Nov. 29, 2011
Texas private sector adds jobs in OctoberTexas, unlike many other states, gained 13,500 private sector jobs in October, adding to the more than 200,000 private sector jobs created since the start of 2011. According to the Texas Workforce Commission, the Lone Star State has seen positive annual job growth for the past 18 months. Read more at the Houston Business Journal.
Nov. 29, 2011
Six Central Texas communities among smartest in U.S.Six Austin-area communities are among the smartest places in the U.S., according to a recent analysis of U.S. Census Bureau data. The list, which broke up communities by population size, ranked Cedar Park, Chevy Chase Village, Rollingwood, Lost Creek, West Lake Hills, Barton Creek, and Lakeway. Read more about the ranking at the Austin Business Journal.
Nov. 28, 2011
El Paso home prices on the declinePrices of existing homes in El Paso decreased 2.5% in the third quarter from prices a year ago. The median, or market midpoint, price of existing El Paso single-family homes sold in July-September was $135,700, down $3,500 from a year ago, according to the National Association of REALTORS®. Read more at the El Paso Times.
Nov. 28, 2011
High sales tax revenues equal better quality jobs in San AntonioSan Antonio’s sales tax revenues are at record highs, reflecting higher-quality jobs even though job-growth rates remain below pre-recession levels, a new economic report indicates. The higher sales-tax revenues reflect higher incomes from new jobs added locally that are of higher quality, mainly professional services and service providers. Read more at the San Antonio Express-News.
Nov. 23, 2011
Fewer people moving, but Texas leads in new arrivalsWhile more Americans are staying put than ever before, those that are on the move are most likely headed to Texas. The Lone Star State was the top destination of Americans changing residences between 2010 and 2011. Read more at the Austin American-Statesman.
Nov. 23, 2011
Abilene home sales up in OctoberHome sales in Abilene have increased in two out of the last three months, with October sales up by about 11% compared with the same month last year, according to the Abilene Association of REALTORS®. Last month 123 homes were sold after being featured on the Abilene multiple listing service, compared with 111 homes in October 2010. Read more at the Abilene Reporter-News.
Nov. 22, 2011
Houston, Austin exception to gloomy retail pictureThe Austin and Houston markets are the only U.S. metropolitan areas that have added more than 1,000 jobs to their retail sectors since the beginning of the recession in 2007, according to The Business Journals’s On Numbers. Austin ranked No. 2 for adding 1,500 retail jobs between 2007 and 2011. Houston took the top spot by adding 4,500. Read more at the Austin Business Journal.
Nov. 22, 2011
Texas to return to peak employment by 2012Texas could return to peak employment levels reached before the recession as soon as January 2012, according to a report from IHS Global Insight. The two main reasons for Texas’s success: the security of the oil and energy market and the lack of a housing recession. Read more at the Houston Business Journal.
Nov. 21, 2011
Houston foreclosures on declineOctober foreclosure filings in the Houston-Sugar Land-Baytown area fell by more than 25% from a year ago and more than 11% since September, according to a report from RealtyTrac Inc. On a state level, Texas ranked No. 26 in the country for the largest foreclosure rates. Read more at the Houston Business Journal.
Nov. 21, 2011
Houston predicted to add jobs next yearThe Houston economy is on pace to finish 2011 with more than 66,000 jobs added for the year and will add about 62,000 jobs next year, a gain of 2.4%. Economists note the oil and gas exploration and production, construction, and manufacturing sectors will lead the growth. Read more at the Houston Chronicle.
Nov. 18, 2011
Austin home prices fall but will recoverAustin metro area home prices fell by 2.3% in the past year but are expected to rise by 0.3% by the summer of 2012, according to the Fiserv Inc.’s Case Shiller Home Price Index. Home prices in Austin will see a growth of 0.6% between the second quarter of 2012 and the second quarter of 2013, the report said. Read more at the Austin Business Journal.
Nov. 18, 2011
Houston adds most jobs in U.S. since 2007The Houston region has added the most jobs out of all U.S. major metropolitan markets since the recession took hold in 2007. The Houston area had 43,400 more nonfarm jobs in September of this year than in September of 2007, according to The Business Journals’s On Numbers analysis of the latest U.S. Bureau of Labor Statistics. Read about the other Texas markets that fared well at the Houston Business Journal.
Nov. 17, 2011
Austin’s housing market outperforms nation’sAustin’s housing market remains steady when compared with national trends in residential real estate, according to the September Home Price Index from CoreLogic. Home prices in Austin, including distressed sales, increased by 2.4% in September 2011 compared to September 2010. Nationally, however, home prices fell 4.1% during the same period. Read more at the Austin Business Journal.
Nov. 17, 2011
Dallas area home prices decline slightly in SeptemberPrices of Dallas area homes declined a tenth of a percentage point in September year-over-year. Home prices are said to be adjusting to correct for the supply-demand imbalance in the market as the inventory of homes for sale remains elevated. Read more at the Dallas Business Journal.
Nov. 16, 2011
DFW growth predicted to exceed statewide growthEconomists expect the Texas economy to grow at an annual rate of about 4% and for the Dallas-Fort Worth area will exceed that. The Metroplex, located in the country’s fastest growing region, is benefitting because it is the regional center of marketing, transportation, and finance. Read on at the Dallas Business Journal.
Nov. 16, 2011
Texas economy remains strong through uneven housing reportsHome prices in Texas ticked up slightly in August based on data from the S&P/Case-Shiller home price index, but remained stagnant overall, according to the Federal Reserve Bank of Dallas. Despite differing reports, the Lone Star State’s economic growth continues to push forward at a moderate pace. Read more at HousingWire.
Nov. 15, 2011
Texas dominates the Improving Markets IndexTexas continued to dominate the list of improving housing markets in October, increasing its net number of entries to seven. With the most cities of any state, the Improving Markets Index identified Amarillo, Corpus Christi, McAllen, Midland, Odessa, Sherman, Tyler, and Waco as markets that have shown improvement for at least six months. Read more at the Amarillo Globe-News.
Nov. 15, 2011
Bigger businesses in TexasFour Texas cities are home to some of the nation’s largest employers according to a list that ranks metros in the U.S. by the number of large businesses in the area. The On Numbers report by The Business Journals ranked Dallas-Fort Worth at No. 4, followed by Houston in No. 7, San Antonio in No. 31, and Austin in No. 42. Read more at the Austin Business Journal.
Nov. 14, 2011
DFW and Houston among nation’s top 10 small business powerhousesDFW and Houston may be home to high-profile Fortune 500 companies, but their economies are fueled by small businesses. Dallas ranked seventh followed by Houston in 10th among the top small business powerhouse cities. Read more at the Houston Business Journal.
Nov. 14, 2011
Houston No. 7 in U.S. for medium-sized businessesThe Houston region is ranked No. 7 in the nation for the total number of medium-sized businesses, those classified with between 100 and 499 employees, according to The Business Journals's On Numbers. Those companies make up 2.68% of all businesses in the greater Houston area. Dallas-Fort Worth ranks No. 4 in the country for businesses of that size, with 3,714. Read more at the Houston Business Journal.
Nov. 11, 2011
Midland-Odessa spending exceeds $1 billionSignificant cash flow generated by oil and natural gas production this year drove companies and individuals alike to open their pocketbooks. Retail spending in Midland-Odessa surpassed $1 billion for the first time in the third quarter of 2011. General real spending in the third quarter was up 24.3% over the third quarter of 2010 and for the first three quarters of the year is up 26.4% over the previous year. Read more at MyWestTexas.com.
Nov. 11, 2011
Job growth fuels strong Texas economyTexas is continuing to create jobs and staying away from much of the financial woes affecting both U.S. and foreign markets. Although the state’s economy has not been unscathed by market volatility, Texas’s reliance on commodities and production of business equipment has helped it maintain stability. Read more at the Houston Business Journal.
Nov. 10, 2011
Austin among top markets to watchAustin snuck into the top five markets to watch next year, according to annual Emerging Trends in Real Estate report from PricewaterhouseCoopers LLP and the Urban Land Institute. The Capital City was ranked No. 2 on the list following Washington, D.C. San Francisco, New York City, and Boston rounded out the top five. Read why Austin ranked at the Austin Business Journal.
Nov. 10, 2011
New-home market increases in San AntonioAfter a few years of shuffling through the downturn, home builders in San Antonio have a bit of bounce in their step. Builders started 1,809 homes in the third quarter of the year, a 3% increase over the same quarter last year, according to a new report from the housing research firm Metrostudy. Read more at the San Antonio Express-News.
Nov. 9, 2011
Austin retail and hospitality sectors growingThe Austin-Round Rock-San Marcos area added 1,300 retail jobs between September 2010 and September 2011, according to the Texas Workforce Commission. Adding more jobs than any other piece of the Austin-area economy in the past year, the leisure-hospitality industry added 4,500 jobs. Read more at the Austin American-Statesman.
Nov. 9, 2011
Austin ranks among top 30 metros for best average salaryPrivate sector employees in Austin have an average salary of $45,500, putting the metro area in the top 30 average salaries nationwide. Austin’s average salary ranks 28th in the country, closer to the average salary of $46,200 in Dallas-Fort Worth, which ranks 25th. Houston’s average salary ranked No. 12 with $51,300 per employee, and San Antonio’s average salary rank 189th at $36,000. Read more at the Austin Business Journal.
Nov. 8, 2011
Texas claims top spot for best business climateAccording to Site Selection magazine, Texas has the best 2011 business climate in the U.S. Texas ranked as the best state for business based on its lack of red tape, financial assistance, and government cooperation with business. Read more at the Austin Business Journal.
Nov. 8, 2011
El Paso employment ebbs and flowsAccording to the latest economic report by the Federal Reserve Bank of Dallas, El Paso’s nonfarm employment decreased 6.2% in September from the previous year with losses driven primarily by the government sector. During the same period, private employment rose 5.7%. Read more at El Paso Inc.
Nov. 7, 2011
Texas’s economy slows on weak job growthComerica Bank’s Texas Economic Activity Index ticked down in August, declining one point to a level of 98. August’s reading was 15 points, or 18%, above the index cyclical low of 83. Year-to-date as of August, the index averaged 96, six points above the average for all of 2010. Read more at KUHF.
Nov. 7, 2011
Victoria is top in state job creationVictoria topped the state in year-over-year job creation for September, according to the Texas A&M University Real Estate Center. Corpus Christi came in second, followed by Laredo, Odessa, and Bryan-College Station. Read more at the Victoria Advocate.
Nov. 3, 2011
Arlington surviving tough economic times better than most citiesThanks to new commercial and residential development, conservative spending by city leaders, and a thriving entertainment district, Arlington is in better shape financially than most other North Texas cities. Increased tourism spending, growth downtown and around the University of Texas at Arlington, the continued success of General Motors, and high-profile events in the entertainment district have generated new tax revenue. Read more at the Fort Worth Star-Telegram.
Nov. 2, 2011
DFW: ‘Tested and proven’While California and Illinois are struggling to retain companies, Texas’ solid business practices are causing it to be viewed as a “sanctuary state” with Dallas-Fort Worth as its shining star. DFW’s onslaught of recent accolades, such as best city to live and do business in, best region for new college grads, fourth-largest metro, and a leading job creator in the country, are just a few proof points. Read why the region is such a success at the Houston Business Journal.
Nov. 1, 2011
Texas home sales up nearly 18% compared to Q3-2010Texas homes continued to hold their value as sales jumped up sharply in the third quarter of 2011, according to the new Texas Quarterly Housing Report released by the Texas Association of REALTORS®. Read more.
Nov. 1, 2011
Austin always among the bestBarely a week can pass without Austin ranking as one of the leading cities in the nation for one category or another. It’s been rated as one of the best places to live, to find a job, to start a business, to simply do business or just about anything else one can imagine. Read all the reasons why Austin ranks among the best at the Houston Business Journal.
Residential listings from Texas REALTORS® across the state.
