Jan 11, 2019
El Paso: Employment down, housing heats up
EL PASO – The regional economy in November 2018 was marked by a decline in payrolls, but continued decent year-to-date employment growth. Furthermore, the housing market is still humming along, according to...
EL PASO – The regional economy in November 2018 was marked by a decline in payrolls, but continued decent year-to-date employment growth.
Furthermore, the housing market is still humming along, according to data from the Federal Reserve Bank of Dallas.
Payrolls dropped at an annualized rate of 4.1 percent, though expanded at a 1.4 percent annualized rate on a year-to-date basis. Unemployment was 4.1 percent, unchanged from October 2018.
In housing, annualized sales totaled 8,578, a 7.3 percent increase from the year before.
The median price of $154,007 was 0.6 percent higher than what was reported in November 2017.
Dallas Fed analysts added that existing-home inventories in November were 4.1 months, well below the six months of supply that signify a balanced market.
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