TEXAS EXISTING HOME SALES DROP IN FEBRUARY
Just over 12,000 existing single-family homes were sold in Texas last month, a 10 percent drop from February 2010. That’s according to the most recent Multiple Listing Services (MLS) data compiled by the Real Estate Center at Texas A&M University.
The median home price in Texas was up 3 percent from February 2010, at $145,800. There was a 7.2-month inventory.
February 2011 MLS data for many Texas cities (current as of today) are available on the Center’s website. Here is a sampling:
| Sales | Change from Last Year |
Median Price |
Change from Last Year |
Months’ Inventory |
|
| Abilene | 91 | down 2% | $110,000 | up 12% | 6.2 |
| Austin | 1,214 | down 3% | $190,000 | up 4% | 5.9 |
| Bay Area | 334 | up 6% | $153,200 | up 4% | 9.8 |
| Beaumont | 108 | no change | $116,700 | down 16% | 10.7 |
| Brazoria County |
54 | down 17% | $115,000 | down 6% | 9.7 |
| Collin County |
604 | down 9% | $205,200 | up 4% | 5.1 |
| Dallas | 2,390 | down 14% | $158,700 | up 6% | 6.6 |
| Fort Worth | 464 | down 19% | $107,200 | down 3% | 6.9 |
| Houston | 3,603 | down 2% | $151,900 | up 4% | 7.5 |
| Longview- Marshall |
113 | down 3% | $124,300 | up 4% | 9.4 |
| Montgomery County |
372 | up 2% | $179,100 | up 5% | 7.3 |
| Port Arthur | 36 | down 20% | $126,700 | up 35% | 11.6 |
| San Antonio | 1,100 | down 12% | $146,400 | up 3% | 7.9 |
| Texarkana | 51 | down 18% | $110,000 | down 16% | 9.2 |
| Waco | 107 | down 11% | $118,600 | up 4% | 9.3 |
| Texas | 12,008 | down 10% | $145,800 | up 3% | 7.2 |
TEXAS OUTPERFORMS NATION IN JOB GROWTH
The Texas economy gained 230,000 jobs from February 2010 to February 2011, an annual growth rate of 2.3 percent. Over the same period, U.S. non-farm employment rose 1 percent.
The state’s private sector posted an annual employment growth rate of 2.5 percent compared with 1.5 percent for the U.S. private sector from February 2010 to February 2011.
The state’s seasonally adjusted unemployment rate was 8.2 percent in February 2011, unchanged from February 2010, while the nation’s rate decreased from 9.7 to 8.9 percent over the same period.
All Texas industries except financial activities and information industries had more jobs in February 2011 than in February 2010.
All Texas metro areas had more jobs in February 2011 than in February 2010. Petroplexes Odessa and Midland ranked first and second, respectively, in job creation followed by Longview and Dallas-Plano-Irving.
The state’s actual unemployment rate in February 2011 was 8.2 percent. Midland had the lowest unemployment rate followed by Amarillo, Lubbock, College Station-Bryan and San Angelo.
For more information, read the Real Estate Center’s latest monthly economic review.
BILL CHERRY, REALTORS
DALLAS – PARK CITIES Since 1964
214 503-8563
