1 / 4

Houston Leads U.S. in Job Creation

Houston Leads U.S. in Job Creation. Houston's broadening economy is helping it remain the fastest-growing major metropolitan area in the U.S., according to the latest Comerica Regional Economic Update.

ogden
Download Presentation

Houston Leads U.S. in Job Creation

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Houston Leads U.S. in Job Creation • Houston's broadening economy is helping it remain the fastest-growing major metropolitan area in the U.S., according to the latest Comerica Regional Economic Update. • The greater Houston area’s payroll job creation was up 3.7 percent over the past year as of October. The national rate averaged 1.5 percent during the same period, economists for Comerica, Inc. said in last week’s report. • Comerica forecasts Houston’s overall unemployment rate for 2012 to be 7 percent, followed by 6.8 percent in 2013 and 6.4 percent in 2014. • Along with job growth, Houston is also experiencing population growth, averaging nearly 3,000 new residents per month between April 2010 and July 2011. • The area’s “robust energy sector” continues to drive job growth, but Comerica also notes that Houston’s economy is broadening beyond energy. Comerica economists cited the addition of two cruise lines at the Port of Houston’s Bayport Cruise Terminal and increasing construction activity as examples of that expansion.

  2. Houston Real Estate Likely to Survive Fiscal Cliff • Real estate listing service RealtyPin.com cites three reasons why the Houston housing market is likely to avoid feeling any deep impact of the so-called “fiscal cliff.” • First, unlike other cities around the country, Houston never experienced an overbuilding period. Houston underwent more of a controlled growth, so the available home inventory never became as astronomically high as in other places. • Second, areas with industry-specific jobs seem to handle a recession better than towns and cities that do not. If the economy falls into another recession, Houston’s housing market will still be strong because there are jobs available here. Remember, wherever there are jobs, there are home sales. • Third, Houston has fewer homes available for sale and more jobs than similar-sized cities. For these two reasons alone, there are fewer foreclosures here as well.

  3. Weekly HAR Market Stat This year has brought sustained turnaround in a variety of areas and market segments. That is why many in the housing industry are optimistic about 2013. Attractive mortgage rates, affordable inventory and a healing jobs picture give reason to believe that year-over-year improvements will continue into and after the traditional holiday slowdown. In the Houston region, for the week ending December 2: • New Listings decreased 2.6% to 1,632 • Pending Sales increased 39.7% to 1,403 • Closed Sales increased 13.9% to 1,611

  4. Mobilize Your Knowledge • Mobile MLS • Students will learn how to utilize HAR's mobile MLS application. This new tool will allow members to access and work in the MLS system using their smart phones. The course will introduce all the different tools available in this new program. It will also offer tips on how consumers are using their mobile devices for property searches. • Date: Friday, December 14 • Time: 1 – 3 p.m. • Location: HAR Central • Investment: Free Questions? 713-629-1900 ext. 6 Register at www.har.com/edu

More Related