Top Marks for Houston ’ s Economy

1. Top Marks for Houston’s Economy • Although most North American metropolitan economies still fall blow pre-recession levels, a new report from the Brookings Institution concludes that Houston has the fastest growing metropolitan economy in North America. • Brookings found that the bulk of the fastest-growing metropolitan economies are in Asia, Latin America, the Middle East and Africa. North America and Western Europe had the slowest-growing metropolitan economies. • When compared to the world’s 300 largest metropolitan economies, Houston ranked as the 40th fastest-growing economy. However, Brookings found it trumped most other U.S. cities in terms of growth. • Although Houston is growing rapidly, it still has not completely recovered from the recession. Brookings notes that the city is outperforming the U.S. in terms of employment change, but is not growing as fast in terms of GDP per capita.

2. Texas Makes List of Best-Run States • Texas took the No. 13 spot on 24/7 Wall St.’s annual list of America’s best- and worst-run states. • The ranking criteria included unemployment rate, state debt levels, crime rates, poverty statistics and other factors. • Texas’ debt per capita was the sixth lowest. The state had the 16th largest budget deficit and the 23rd lowest unemployment. • The Lone Star State’s median household income of $49,392 ranked 25th highest nationally, and its percentage of households below the poverty line was 18.5 percent. • Texas also beat out all but three states in economic growth. 24/7 Wall St., a financial news organization, attributes the state’s 3.3 percent growth in 2011 to the oil boom, as well as exports. The analysis also noted Texas’ low taxes and business-friendly climate as reasons why it ranked among the best-run states.

3. Weekly HAR Market Stat Home buyers entered more contracts than during the same week of 2011. As a whole, 2012 is shaping up to be quite the pivotal year for housing. With 2013 right around the corner, the smart money is monitoring seller concessions, market times, absorption rates and, of course, home prices. The genius money is watching foreclosure listing and sales volumes, delinquency rates and showing activity. In the Houston region, for the week ending November 25: • New Listings decreased 8.9% to 1,018 • Pending Sales increased 39.9% to 1,020 • Closed Sales increased 5.1% to 779

4. Take Responsibility – The Course • Broker Responsibility • The purpose of this course is to address the regulatory aspects of the management, operation and supervision of a real estate brokerage firm in Texas. This course provides an understanding and working knowledge of the law of agency, planning and organization of business entities, requirements for written policies and procedures, records retention and control, advertising, recruitment and training of agents, and the anatomy of a complaint filed with Texas Real Estate Commission (TREC). • Date: Wednesday, Dec. 12 • Time: 8:30 a.m. – 3:30 p.m. • Location: HAR Central • Investment: $50 Questions? 713-629-1900 ext. 6 Register at www.har.com/edu