RECON for April 20, 2021RECON for April 20, 20212021-04-20T05:00:00Z2021-04-20T05:00:00Z
exas Real Estate Research Center Research Economist Dr. Charles Gilliland [left] and Executive Director Gary Maler standing in front of ATV
Our 30th Annual Outlook for Texas Land Markets starts this Thursday. Join a line-up of real estate experts as they discuss a variety of legal, economic, social, and natural resources issues influencing current land market dynamics. ​Register now before it's too late. (Photo of Texas Real Estate Research Center Research Economist Dr. Charles Gilliland [left] and Executive Director Gary Maler by photographer JP Beato.)
April 20, 2021

Texas unemployment claims see significant drop

COLLEGE STATION (Texas Real Estate Research Center) – Initial jobless claims in Texas decreased significantly the week ending April 10, falling around 21,600 claims to 63,000.

​​About 4.94 million unemployment claims have​​​ been filed since​ March 21, 2020, according to U.S. Departm​​ent​ of Labor (DOL) data. 

Continuing unemployment claims dec​reased to​ 288,400 the week ending April 3, registering the lowest number since the pandemic​ started shutting down the economy March of last year.

"Both decreases in initial and continuing claims indicate that labor market conditions are improving noticeably," said Dr. Luis Torres, a research economist for the Texas Real Estate Research Center. "Still, levels of claims remain high." 

The number of workers receiving benefits through the pandemic unemployment assistance program, which is open to gig workers and others who don’t typically receive benefits, decreased considerably the week ending April 10.​​​​

​Last week, U.S. initial claims decreased to 576,100, the lowest level of the pandemic. This brings the 56-week total to 79.6 million. 

Fewer people in most of Texas' major and border ​metros filed new unemployment claims the week ending April 10. 

Using data from the DOL and the Employment ​and Training Administration, the Center has estimate​d unemployment claims for Texas' major and border metros since March 21, 2020:
  • Houston-The Woodlands-Sugar Land, 1.17 million claims;
  • ​​Dallas-Fort Worth-Arlington, 1.13 million claims;
  • San Antonio-New Braunfels, 345,300 claims;
  • Austin-Round Rock, 289,800 claims;
  • McAllen-Edinburg-Mission, 136,300 claims;
  • El Paso, 118,600 claims;
  • Brownsville-Harlingen, 60,200 claims; and
  • ​​Laredo, 34,100​ claims.​​​
"Increasing vaccination rates should lead to a faster recovery in the leisure and hospitality sector, possibly creating a wave of hiring that would allow thousands of laid-off workers to find jobs," said Torres.

Educational services and healthcare and social assistance registered the highest numbers of initial claims the week ending April 3. The sectors were followed by retail trade and administrative/support/waste management/remediation services.
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Houston named 2021's most diverse city

WASHINGTON (WalletHub) – Houston is the most diverse city in America, according to a WalletHub study. 

Space City ranked 3​1st in cultural diversity, 53rd in religious diversity, 96th in socioeconomic diversity, 125th in economic diversity, and 136th in household diversity. 

Dallas and Arlington also landed in the top ten, ranking fourth and eighth, respectively. Fort Worth was 25th. 

The rest of the top ten ranking is:
  • No. 2 Jersey City, N.J.;
  • No. 3 New York;
  • No. 5 Los Angeles;
  • No. 6 Gaithersburg, M​​​d.;
  • No. 7 Silver Spring, Md.;
  • No. 9 Long Beach, Calif.; and 
  • No. 10 Danbury, Conn., and Chicago (tie). 
Sketchy drawing of commercial buildingsThe Texas Real Estate Research Center's Texas Quarterly Commercial Report looks at past, present, and future commercial real estate activity in the state's four major metropolitan areas. It covers the office, retail, and warehouse sectors. Read and download the report for free, and subscribe to know when the next issue is published. 

Mobile Loaves & Fishes breaking ground on $119M expansion

​​​​AUSTIN (Austin Business Journal) – Mobile Loaves & Fishes is adding 1,400 micro homes to Community First Village, a neigh​borhood designed to house people who have been chronically homeless. 

The next two phases will add the homes across 127 acres. Five-hundred homes were built during the first two phases.

The community at 9301 Hog Eye Rd. has 3D-printed homes.

Construction begins in summer 2022. 
NewsTalk Texas logoHungry for more Texas real estate news? Then feast your eyes on NewsTalk Texas, our online news database. Here are a few of the stories you'll find there this week: NewsTalk Texas is updated each weekday, throughout the day. 

Bradfield Ventures breaks ground on 272-unit apartment complex

​​​SAN ANTONIO (San Antonio Business Journal) – Bradfield Ventures has broken ground on Abacus West, the second phase of a master-planned apartment project on the city’s far west side.

The 272-unit community at 11800 Culebra Rd. will have one- and two-bedroom units. 

Amenities will include a pool, dog park, community garden, walking trail, workout room, Amazon lockers, and car-charging stations. 

Construction will be complete by July 2022. 

The first phase of the development, Abacus Alamo Ranch, was delivered in July 2019.
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Move Solutions moving to Park 183 in Southeast Austin

AUSTIN (Austin Business Journal) – Move Solutions Ltd. has signed a 107,537-sf industrial lease at Park 183, a seven-building industrial park.

The company will move into Building 3 at 8515 Burleson Rd. 

Other tenants include Home Trends an​d Designs, American Canning Company, and Architectural Division 8.

Transwestern represented Move Solutions. CBRE represented the landlord. 
Communication Matters video seriesThe Texas Real Estate Research Center's Texas Home Price Index measures price appreciation changes for residential single-family homes. It provides data for eight different Texas metros across three different price ranges.

Montfort, Blue Vista Capital pick up 909-unit A3 Storage Centers 

​​​SAN ANTONIO (Marcus & Millichap) – A joint venture between Montfort Capital Partners LLC and Blue Vist​​​a Capital Management has acquired the 909-unit A3 Storage Centers at 2310 N. Loop 1604 W.

The three-story facility spans 150,635 sf. 

Marcus & Millichap represented the buyers.
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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 Texas Real Estate Research Center at Texas A&M University should not be reprinted without permission of the original source. To send news items for consideration, e-mail Hayley Rieder. The Texas Real Estate Research Center is part of Mays Business School at Texas A&M University in College Station - the heart of the Research Valley.


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