News around Texas, September 2011
Sep. 30, 2011
Unemployment decreases in Liberty County for second straight monthThe unemployment rate declined for a second straight month in Liberty County, with the August unemployment rate at 10.9%, according to the Texas Workforce Commission. The county’s unemployment rate stood at 11.4% in July and at 11.7% in June. Read more at the Cleveland Advocate.
Sep. 30, 2011
Home sales continue to increase in Wichita FallsFor the second consecutive month, home sales and sales volume were up in August in Wichita Falls. Extremely low mortgage rates coupled with a flattening of home prices make homeownership very affordable in the area. Read more at the Times Record News.
Sep. 29, 2011
El Paso growth outpaces most metro areasWhile the El Paso economy grew slowly in the second quarter, it grew at a faster pace than most other large U.S. metros. According to the Brookings Institute, El Paso ranked 12th among the nation’s 100 largest metros, with economic output up 0.6% in the second quarter. Read more at the El Paso Times.
Sep. 29, 2011
Texas sees first job decline in almost a yearAfter adding jobs for almost a year, Texas stumbled slightly last month, losing 1,300 jobs in August. According to data from the Texas Workforce Commission, the decline caused the year-over-year growth rate to dip to 2.4% in August from 2.6% in July. Read the full story at the Houston Chronicle.
Sep. 28, 2011
San Antonio shows economic growthAccording to the U.S. Bureau of Economic Analysis, the San Antonio-New Braunfels area’s gross metropolitan product grew 3.56% in 2010 to $82 billion. The area ranked 38th out of the 366 U.S. markets. Read more at the San Antonio Business Journal.
Sep. 28, 2011
Arlington is the best place to live and workA new report entitled "Best Cities: Where Work & Home Meet" puts Arlington at the top of a list of cities with the most affordable housing and plentiful job openings. Arlington came in first for the most affordable options for both renters and buyers. Read more at FINS.
Sep. 27, 2011
Weatherford is the fifth-best place to retireAccording to Money magazine, Weatherford is the fifth best place to retire. Weatherford is recognized for maintaining its own identity despite the growth of the nearby Dally/Fort Worth area, providing affordable wide-open spaces, and lacking in a state income tax. Also making the list of the “25 best Places to Retire,” Austin and Georgetown ranked at 16th and 25th, respectively. Read more at CNNMoney.
Sep. 26, 2011
McAllen first in job demand, worst in worker educationWhile the McAllen-Edinburg-Mission area was the top metro in the nation positioned to cushion its job market during the recession, the area was recently ranked dead last by the Brookings Institute due to its shortage of educated workers who can satisfy employer needs. Read on at The Monitor.
Sep. 26, 2011
Employment slips slightly in TylerDespite Tyler area employment rates dipping slightly in July from the previous month, the area’s employment rate still remained higher than state and national rates. Local employment was 91.7% in August compared to 91.5% for Texas and 90.9% nationwide. Read more at the Tyler Morning Telegraph.
Sep. 23, 2011
Southeast Texas unemployment rate remains steadyThe jobless rate for Southeast Texas stayed at 11.5% for August, but significant shifts in numbers point toward hiring weaknesses in Jefferson, Hardin, and Orange counties. Read more at the Beaumont Enterprise.
Sep. 23, 2011
Texas adds jobs for 20 consecutive monthsThe state’s private sector continued to grow in August, adding 8,100 jobs. Texas has experienced growth in the past 16 months, with annual growth rates above 2% for the last three months. Read the full release from the Texas Workforce Commission.
Sep. 22, 2011
Tyler homes sales rise for third month in a rowHome sales increased for the third consecutive month in August for the Tyler area. Last month, 295 houses sold, a 23.95% increase compared to August 2010. Read the full story at the Tyler Morning Telegraph.
Sep. 22, 2011
The Texas can-do attitudeTexas fared well on Newsweek’s recent ranking of “America’s 20 Can-Do Capitals,” with five Texas cities making the list. El Paso topped all others with a score of 71.4. San Antonio ranked fourth with 61.6, Austin tenth with 59.4, Dallas 13th with 58.5, and Fort Worth 14th with 58.1. Read more at Newsweek.
Sep. 21, 2011
San Antonio ranked as the best place in the U.S. for jobsA recent survey by the Manpower Group reveals San Antonio has the most optimistic hiring forecast for the fourth quarter. Long lists of diverse employers, continued job creation, and low cost of living are all cited as reason why San Antonio stand out. Read more at Forbes.
Sep. 21, 2011
El Paso ranked first for housing-market recoveryAccording to a recent rating by the Housing Predictor, El Paso is expected to grow 3.7% this year, making it the top market for recovery in the housing market. A robust local economy and U.S. military realignment program are cited as key drivers. Read more at Housing Predictor.
Sep. 20, 2011
Lubbock home sales shoot up in AugustConsumer confidence and low interest rates on new mortgages are driving housing activity in Lubbock. According to the Lubbock Association of REALTORS®, sales in the higher ranges of Lubbock’s existing housing market pushed the average sales price to a new record in August. In addition, sales volume and median price were up compared to August 2010. Read the full story at the Lubbock Avalanche-Journal.
Sep. 20, 2011
Number of underwater homes in Texas well below national averageAccording to data from CoreLogic, 11.8% of residential properties in the Dallas area were declared to have an “underwater” mortgage for the second quarter of 2011. Statewide, 10% of all residential properties were upside down. Both percentages fell well below the national average of 22.5%. Read more at the Dallas Business Journal.
Sep. 19, 2011
Austin’s economic output growsAccording to the U.S. Bureau of Economic Analysis, economic output for the Austin-Round Rock-San Marcos area was up 6.97% in 2010 over the previous year, placing it 35th out of 366 U.S. markets. Houston was among the top five largest U.S. markets, with a gross metropolitan product of $384.6 billion. Read more at the Austin Business Journal.
Sep. 19, 2011
Three Texas cities rank in Forbes’ The Best Small PlacesCollege Station, Abilene, and Longview ranked ninth, 48th and 56th on Forbes’ The Best Small Places for Business and Careers list. All three cities were ranked based on their quality of life and business opportunities. Read more at the Abilene Reporter News.
Sep. 16, 2011
North Texas home sales jump up in AugustSales in North Texas made a huge jump in August, rising 27% from a year ago. Mortgage rates, which reached their lowest level in six decades, are a possible driver of the housing market. Read the full story at the Fort Worth Star-Telegram.
Sep. 16, 2011
Midland and Waco make ‘Improving Markets’ IndexAccording to the newly launched Improving Markets Index, Midland and Waco made the list of only 12 metros in the nation that have consistently shown signs of improvement. To make the list, a metro area must show at least six months of improvement in housing permits, employment, and home prices. Read more at Inman News.
Sep. 15, 2011
Houston and DFW second and third for job growthAccording to the most recent On Numbers analysis, Houston and DFW ranked second and third in the nation for the most private sector jobs added in the past year. Between July 2010 and July 2011, Houston added 67,900 jobs, followed closely by DFW at 67,400 jobs. Read more at the Dallas Business Journal.
Sep. 15, 2011
Temple home sales follow national upward trendTemple existing home sales and median prices increased in July, following trends in the state and nation. Residential sales increased 12% in Temple in July compared to July 2010. Read more at the Temple Daily Telegram.
Sep. 14, 2011
Midland-Odessa economy approaches record territoryJuly marked the 17th consecutive month the Midland-Odessa Regional Economic Index posted increases as it recovers from the 18-month decline that followed the national and global economic downturn. While it is still below 4%, its peak in December 2008, the July index was up 12.2% over July 2010. Read the full story at the Midland Reporter-Telegram.
Sep. 14, 2011
Texas energy sector fuels state economyAccording to the “Beige Book” released by the Federal Reserve Bank of Dallas, the Texas energy sector continues to drive the state’s economy. Despite many other sectors remaining flat, economic activity has grown at a modest pace since July 2010. Read the full story at the Dallas Business Journal.
Sep. 13, 2011
Texas home sales increaseAccording to the Federal Reserve Bank of Dallas, the Texas economy continues to outpace the nation with gains in employment and home sales in July. The Lone Star State added 25,900 jobs in July while home sales increased 1.5% from June. Read the full story at Housing Wire.
Sep. 12, 2011
DFW is fourth most-populous metro area in nationDFW is the fourth-largest metropolitan in the United States with an estimated population of 6,554,919. The Houston-Baytown-Sugarland area follows in fifth place with 6,139,797 residents. Read more at the Dallas Business Journal.
Sep. 9, 2011
Austin apartment rents highest in TexasAustin apartment rents increased 10.1% over the past six months, keeping its rank of the highest cost-per-unit apartment market in Texas. Currently, the market is at its tightest rate in 10 years, with the occupancy rate at 95.4%. Read more at the Austin Business Journal.
Sep. 6, 2011
Texas manufacturing slowsU.S. consumer spending rose at its fastest pace in five months in July, a further sign the economy is not falling back into recession despite manufacturing activity in Texas nearly stalling this month. Read the full story at Reuters.
Sep. 2, 2011
Texas economic activity up for fourth straight monthThe Texas Economic Activity Index has shown consistent, strong performance over the first half of 2011, with June marking the fourth straight month of increased activity. Read more at the Dallas Morning News.
Sep. 2, 2011
Austin home prices steadier than national averageWhile most markets in the U.S. are still declining, Austin-area home prices continue to hold steady. According to the latest Home Price Index, Austin-area home prices rose 0.1% in July and 0.7% when distressed sales aren’t factored in. Read the full story at the Austin Business Journal.
Sep. 1, 2011
San Antonio one of the hottest spots for entrepreneursSan Antonio has become the cybersecurity hub for the U.S. with more than 80 information-technology and cyber-related businesses, a figure that is growing rapidly as entrepreneurs continue to flock to the city. A qualified job force and strong government agency presence are cited as the key reasons this sector has continued to grow in San Antonio. Read the full story at the Wall Street Journal.
Sep. 1, 2011
West Texas housing shortage threatens growthWhile the booming oil and gas industry in West Texas has kept the unemployment rate low, the rapid population growth in the area is causing an extreme housing shortage. This could hinder the growth for the area until more housing is built, as the shortage is also causing an employment shortage. Read more at KOSA.
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