COLLEGE STATION – The latest editions of our monthly economic reports are now online.
Outlook for the Texas EconomyThe Texas economy grew moderately in November despite lower oil prices and a strong U.S. dollar. The number of jobs in the state increased in November primarily due to the services sector, trade, transportation and utilities, and leisure and hospitality. The unemployment rate continued to edge up. Manufacturing and mining and logging employment in Texas declined, while services continued a positive trend. Housing demand showed small signs of slowing as Houston exhibited some weakening.
Texas Housing InsightIn November, total Texas housing sales decreased 0.5 percent year-over-year seasonally adjusted and decreased 1.8 percent on a not seasonally adjusted basis. Three of the five major metros — Austin, Dallas and Fort Worth — posted solid home sales increases. Houston had a negative 5.6 percent year-over-year seasonally adjusted change (negative 10.7 percent not seasonally adjusted). Year-to-date, 2015 Texas home sales registered positive growth, but the rate of change lagged behind the nation.
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