Economic Outlook from Susan Combs, Texas Comptroller of Public Accounts

Jobs

• The U.S. added 227,000 nonfarm jobs in February 2012. The U.S. unemployment rate remained at 8.3 percent for February 2012.  Between February 2011 and February 2012, U.S. total nonfarm employment increased 1.5 percent.
• Texas total nonfarm employment increased by 67,200 jobs during January 2012. Between January 2011 and January 2012, Texas total nonfarm employment increased 2.5 percent.
• The Texas unemployment rate dropped to 7.3 percent for January 2012, down from 7.4 percent in December 2011.
• The Texas unemployment rate has been at or below the national rate for 61 consecutive months.

Consumer Confidence Index

• The U.S. consumer confidence…

San Antonio Board of REALTORS  January 2012 Sales Statistics

A five percent increase in sales shows the steadiness of the San Antonio market,” said Angela Shields, President and Chief Executive Officer of SABOR.

January 2012’s average sales price for single-family residential homes registered at $174,789 while the month’s median price was $141,200.

“This month, we saw a slight decrease in both the average and median sales price, but nothing to be alarmed about,” said Liza Reyes, SABOR’s 2012 Chairman of the Board. “Slight fluctuations are very common to the San Antonio market. San Antonio is known for being a healthy market and any healthy market will reflect little ups and downs, it is very natural.”

According to recent…

OIL INDUSTRY BOOSTS TEXAS JOB GROWTH

 COLLEGE STATION (Real Estate Center) – Texas’ mining and logging industry ranked first in job creation in the past year, followed by the professional and business services industry, and the leisure and hospitality industry, according to the latest Monthly Review of the Texas Economy.

Overall, the state’s economy gained 205,100 nonagricultural jobs from December 2010 to December 2011, an annual growth rate of 2 percent compared with 1.3 percent for the United States. The state’s nongovernment sector added 261,200 jobs, an annual growth rate of 3 percent compared with 1.8 percent for the nation’s private sector.

Texas’ seasonally adjusted unemployment rate fell from 8.3 percent to 7.8 percent while…

Overall 2011 San Antonio Home Sales Show Stability

by Randy Watson

The San Antonio Board of Realtors summarizes the 2011 San Antonio real estate market, stating that 2011 ended on a slow and steady note, but like the old adage says, “slow and steady wins the race”, and it looks like San Antonio is doing just fine.

The year to date median sales price of San Antonio home sales increased over 2010, up very slightly 1% to $152,000. The total number of sales for 2011 was 17,914, no change from 2010. The 2011 average sales price for a San Antonio home, sold at $185,516. No change from the 2010 average home price.

Mayor Castro expects San Antonio to create more jobs than any other Texas city. Angela Shields, President and CEO of SABOR said,…

Written by Randy Watson

November 2011Off-Season Buying Trends Affect Housing Sales and Prices

The San Antonio Board of Realtors (SABOR) released their monthly housing report for the month. 1239 Single family residential homes closed, a 2% decrease from November 2010. The average price declined 8% for a single family home compared to November 2010. 

"This month, we saw a sales decrease for homes priced between $200,000 and $500,000, as well as homes priced above the halfmillion dollar mark," said Scott Caballero, SABOR's 2011 Chairman of the Board.

• 1,239 single-family residential homes sold in November 2011.
• $174,861 is the average price of a single-family home, a 8% decrease from November 2010.
• $145,500 is the Median price of a…

October 2011 San Antonio Real Estate Sales Statistics

Written by Randy Watson

The San Antonio Board of Realtors (SABOR) released their monthly housing report for the month. The October 2011 report indicated that 1349 single-family residential homes sold compared to 1285 homes that sold in October 2010.

“The healthcare, tourism, and defense industries have a major economic impact here, but there are also many financial services and manufacturing companies that provide opportunities for the local workforce,” says Scott Caballero, 2011 SABOR Chairman of the Board. “Eagle Ford Shale is said to bring nearly 4,000 jobs to the area as well. San Antonio’s cost of living supports the healthy economic climate. The steady, affordable housing…

by Randy Watson

TEXAS "WHOLE WHEAT" ECONOMY

Material herein is published according to the fair-use doctrine of U.S. copyright laws related to non-profit, educational institutions. Items attributed to sources other than the Real Estate Center at Texas A&M University should not be reprinted without permission of the original source. 

HOUSTON (Real Estate Center) – Add “baked goods” to the list of colorful analogies used to compare Texas’ relatively strong economy to that of the United States. That’s what State Comptroller Susan Combs did at yesterday’s 2012 Forecast Conference in Houston.

“The U.S. has what has been referred…

Halliburton Jobs Come to San Antonio for the Eagle Ford Shale

Written by Randy Watson

The Eagle Ford shale operations may be the largest oil field ever discovered in Texas. They are predicting millions and millions of dollars worth of oil and hundreds to tens of thousands of new oil related jobs from San Antonio throughout South Texas. Houston based oilfield giant Halliburton, the world leader in the oilfield service industry with operation in more than 70 countries began work on a $50 million base of operation in San Antonio. The planned 400,000 square foot structure will be located near I37 and Loop 1604 in southeast Bexar County.

Halliburton's major business segment is the Energy Services Group which provides technical products and services…

San Antonio Ranks Number Five For Military to Begin Second Career

San Antonio came if at number 5 for best places for Military Retirees to launch their second career. USAA and Military.com commissioned a study from Sperling's BestPlaces to match military retirees and their job skill sets.

Overall Top 10 Places

1. Oklahoma City, Oklahoma
2. Norfolk, Virginia
3. Richmond, Virginia
4. Austin, Texas
5. San Antonio, Texas
6. Madison, Wisconsin
7. Philadelphia, Pennsylvania
8. Raleigh, North Carolina
9. Omaha, Nebraska
10. Manchester, New Hampshire

Texas Ranks Tops for New Jobs by Forbes in 2011

Written by Randy Watson

Texas Comptroller reports Forbes’ 2011 Best Cities for Jobs ranking in large cities. Texas came in tops in all three size of city categories. San Antonio was ranked 4th by Forbes for best big city for jobs.

Best Big City for Jobs

1. Austin-Round Rock-San Marcos, TX
2. New Orleans-Metairie-Kenner, La.
3. Houston-Sugar Land-Baytown, TX
4. San Antonio-New Braunfels, TX
5. Dallas-Plano-Irving, TX

Best Mid-Size City for Jobs

1. El Paso, TX
2. Corpus-Christi, TX
3. Anchorage, AK
4. McAllen-Edinburg-Mission, TX
5. Fayetteville-Springdale-Rogers, AR-MO

Best Small Cities for Jobs

1. Killeen-Temple-Fort Hood, TX
2. Bismarck, N.D.
3. College Station-Bryan,…