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January 2017

There are 3 blog entries for January 2017.

Job Growth in Texas Continues to Outpace Nation

Monday, January 30th, 2017 at 4:35pm. 997 Views

Austin jobsTexas job creation grew by 1.8 percent annually from December 2015 to December 2016, with an increase of 213,500 nonagricultural jobs. This is compared to a 1.4 percent increase in the United States, according to the Monthly Review of the Texas Economy by Ali Anari at the Real Estate Center at Texas A&M University. Nongovernmental (private sector) jobs increased 1.7 percent, to 173,400 jobs, also 0.2 percent higher than nationally.

Texas’ unemployment rate in December 2016 was 4.6 percent, seasonally adjusted, the same as the preceding December. The U.S. rate was slightly higher at 4.7 percent.

Ranking highest in growth in Texas were education and health services, followed by the leisure and hospitality industry, financial activities, and trade.

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Texas Housing Starts Down, Overall Prices Look to Continue Increasing

Monday, January 30th, 2017 at 3:37pm. 1,160 Views

Austin new home constructionTexas housing starts decreased 11.3 percent in November 2016 compared to November 2015, once seasonally adjusted. This continues a negative trend for housing starts that began in late-summer 2016, according to a report by the Real Estate Center at Texas A&M University and authored by James P. Gaines, Luis B. Torres, and Wayne Day. However, Texas single-family housing construction permits increased in November, on an annual and a monthly basis, a positive trend that began in late 2014/early 2015.

Following these results, the Texas Residential Construction Leading Index indicates there will be slow growth in future residential construction, according to the report, which credits low supply to limited lot inventory and shortages in construction labor.

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Austin, Texas Real Estate Market Update and Statistics January 2017

Monday, January 23rd, 2017 at 1:43pm. 1,207 Views

Austin homes Another Record-Breaking Year for Austin Real Estate

The Central Texas real estate market broke records in 2016 for home sales volume and also reached new highs in home prices, according to the Austin Board of REALTORS® December and Year-End 2016 Central Texas Housing Market Report.

Single-family home sales for 2016 increased 3.9 percent from 2015, to an all-time high of 29,569 home sales in the five-county Metropolitan Statistical Area. Median price increased 7.2 percent to $284,000, and homes stayed on the market an average of 50 days, two days longer than in 2015. Housing inventory was unchanged at a two month supply, very low in comparison to a typical balanced market of 6.5 months, according to the Real Estate Center at Texas A&M University. The

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