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Texas Economy Still Robust
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3 Comments ::  :: Economy |
| Texas Economy Still Robust Texas Real Estate Center: The Texas economy continues to surpass the nation’s in employment growth rate and job creation. According to Research Economist Ali Anari, Texas total nonfarm employment rose 2.2 percent from September 2005 to September 2006 compared with 1.3 percent for the United States. Laredo ranked first among the state’s 26 metro areas in annual employment growth rate during the period at 5.5 percent, followed by McAllen-Edinburg-Pharr (5.2 percent), Midland (4.6 percent) and Sherman-Denison (3.6 percent). Texas’ construction industry ranked first in job creation with 36,800 new jobs, followed by the natural resources and mining industry (10,800), professional and business services industry (47,600), and the financial activities industry (18,800). The state’s seasonally adjusted unemployment rate declined to 4.8 percent in September 2006, just slightly higher than the 4.6 percent U.S. rate. Midland had the lowest unemployment rate (3.3 percent) in the state in September 2006, followed by Amarillo (3.6 percent), College Station–Bryan (3.7 percent) and Austin–Round Rock (3.8 percent). For more information, see the full report at http://recenter.tamu.edu/econ/. |
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By
mikead @
Saturday, November 18, 2006 8:35 AM |
Home Builder Confidence Rises Again
Home builders’ confidence has improved for the second straight month.
The National Association of Home Builders says its members’ confidence in the housing market had fallen for eight months in a row to a 15-year low of 30 in September.
But beginning last month, the index went up again to 31 in October and 33 in November. The index peaked at 72 in June 2005 and was at 61 this time last year.
"More and more builders are seeing light at the end of the tunnel," says David Pressly, president of the NAHB and a builder based in Statesville, N.C. "Our members are telling us that the market is steadying after a significant downward correction. We look for sales to stabilize and gradually move up in the coming months."
Robert Brusca, chief economist for FAO Economics, agrees. "The data tell us that the worst of housing is behind us," Brusca says.
Source: Dow Jones Business News, Rex Nutting |
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By
mikead @
Saturday, November 18, 2006 8:36 AM |
Survey: Consumers confident home prices will rise. Housing market outlook brighter by mid-2007.
Americans remain highly confident about the nation's housing prospects, with more than four out of five homeowners expecting the value of their home to appreciate over the next five years and nearly seven out of 10 calling it their most valuable investment, according to results from a new nationwide survey.
"The poll clearly debunks the more sensational media reports speculating on the demise of the housing market," said David Pressly, president of the National Association of Home Builders (NAHB) and a home builder from Statesville, N.C. "It is interesting to note that other polls conducted by major news organizations have come up with similar results, indicating that despite the current housing market downturn Americans resoundingly believe that buying a home is the best investment they can ever make."
The survey of 2,000 households, including more than 1,750 registered voters, was conducted by RT Strategies between Oct. 26-29.
The polling found that 81 percent of homeowners believe that the value of their homes will rise over the next five years. Only 13 percent felt their home would fall in value, while 4 percent expected no change and 3 percent were unsure.
In addition, 69 percent of the respondents listed their home as their most valuable investment. By contrast, this was followed by 401(k) and other retirement accounts, with just 11 percent of those polled citing this as their top investment.
Looking ahead, NAHB said the housing market is poised for solid and sustained growth in the future.
"We are in the midst of an inevitable adjustment following the housing boom of 2004-2005 when housing market activity soared to unsustainable levels," said NAHB Chief Economist David Seiders. "Housing demand should stabilize in short order, and the downward adjustment to housing production should run its course by mid-2007.
The market that emerges from this correction will display good balance between supply and demand, and move to a healthy and sustainable trend based on solid underlying fundamentals." |
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By
mikead @
Saturday, December 30, 2006 11:04 AM |
As 2006 draws to a close, national headlines debate the possibility of a future recession, pointing primarily to a faltering housing market. Here in Texas, however, the news is quite different. Texas housing markets, across the board, have shown strength and growth throughout 2006, while local real estate economies across the country were stalling, sputtering and even slowing.
Headlines could not have been more different in every single Texas metropolitan market. With figures that astounded the experts, sales records have been broken, and real estate has continued to flourish, all across the state.
So, the challenge to Texas consumers is one of focus – to remain clear on the distinction between the remarkable local economy and the occasional hiccups in the national economy. In the lone star state, employment is high, real estate values are showing steady growth, demand for housing is strong, and the news continues to emphasize development, progress and optimism.
by James Selig |
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