RECON for January 4, 2022RECON for January 4, 20222022-01-04T06:00:00Z2022-01-04T06:00:00Z
RECON Texas Real Estate Research Center
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January 4, 2022

Texas personal income up in third quarter

W​​ASHINGTON (U.S. Bureau of Economic Analysis) – Texas' personal income increased 4 percent at an annual rate in third quarter 2021, according to the U.S. Bureau of Economic Analysis (BEA). 

This comes after the ​metric increased 21.7 percent in the second quarter.

According to the BEA, increases in earnings and property income (dividends, interest, and rent) more than offset a decline in transfer receipts. 

In Texas, earnings increased 13.2 percent in the third quarter. The increase in earnings reflected the continued economic recovery following the partial economic shutdown that began in first quarter 2020 after the start of the COVID-19 pandemic.

Mining, quarrying, and oil and gas extraction; professional, scientific, and technical services; and administrative and waste management services were the leading contributors to the increase in Texas earnings.

The full economic effects of the COVID-19 pandemic cannot be quantified in the state personal income estimates because the impacts are generally embedded in source data and cannot be separately identified.​
December 2021 Total RECall
December 2021 was a busy month for the Center. Last month, we published four research articles, updated five economic reports, and celebrated a combined 75 years of service for two of our team members. Read Total RECall for the full recap.

Austin a top city for jobs in 2022

​WASHINGTON (WalletHub) – Austin is the fifth-best city in which to find a job this year, according to a WalletHub study.

The Texas Capital ranked eighth in job market and 15th in socio-economics. 

Plano was the next Texas city on the list, ranking 11th overall. It was 12th in job market and 32nd in soc​io-economics. The North Texas city tied for first with several other cities for highest median annual income.  

The rest of the top ten places to find a job are:
  • No. 1 Columbia, Md.;
  • No. 2 Salt Lake City; 
  • No. 3 San Francisco;
  • ​No. 4 Portland, Maine;
  • No. 6 Orlando, Fla.;
  • No. 7 Seattle;
  • No. 8 Scottsdale, Ariz.;
  • No. 9 San Jose, Calif.; and 
  • No. 10 Nashua, N.H. 
To compile the list, WalletHub looked at employment and economic data for 182 cities across the nation.
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. 

Texas GDP up in 3Q2021, reflecting continued recovery

​​​​​​WASHINGTON (U.S. Bureau of Economic Analysis) – Texas' real gross domestic product (GDP) increased 3.5 percent at an annual rate in third quarter 2021, according to the Bureau of Economic Analysis.

The increase reflects the continued economic recovery, reopening of establishments, and government response related to the COVID-19 pandemic.

In the third quarter, government pandemic assistance payments to households decreased as economic impact payments ceased.

Professional, scientific, and technical services; finance and insurance; and administrative and support and waste management and remediation services were the leading contributors to the increase in GDP.

Nationally, real GDP increased 2.3 percent at an annual rate. All but 11 states saw increases in GDP in 3Q2021.
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. 

Chicago investment firm revamping Pearland property

​​PEARLAND (REBusiness Online) – Waterton has acquired Stonepost at Shadow Creek Ranch, a 360-unit apartment commu​nity within the Shadow Creek master-planned community.

The 27.5-acre garden-style property has one-, two-, and three-bedroom units averaging 1,150 sf. It was built in 2010. 

Amenities include a pool, fitness center, resident clubhouse, grilling area, billiards room, playground, and dog park.

Waterton will upgrade the property and rebrand it as Sladestone at Shadow Creek Ranch.
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Landsea Homes buys 900 lots in 422-acre Kyle subdivision

​​KYLE (Austin American-Statesman) – Landsea Homes Corp. has purchased more than 900 lots in the Anthem subdivision. 

The lots are the last that remain in the 422-acre master-planned community along FM 150. 

The first homes will be complete in late 2023. 

Once complete, Anthem will have 1,500 single-family homes, an elementary school, amenity center, and commercial space. 
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.

Mixed-use development coming to 29 acres in New Braunfels

​​​​​NEW BRAUNFELS (San Antonio Business Journal) – The city council has approved the rezoning of 29 acres at 555 Porter St. for a mixed-use developm​ent. 

Plans ​include a hotel, event venue, retail and office space, and apartments. 

Don Thomas of CBRE Group Inc. bought the property six years ago.
Helping Texans make the best real estate decisions since 1971

Amazon expands with 333K-sf lease in The Domain

​AUSTIN (San Antonio Business Journal) – Amazon has leased the 332,865-sf Domain 9 building at 2904 Palm Way. 

Cousins Properties Inc. is developing the building, which will deliver this year. ​

The space will create 2,000 new jobs and house roles in operations technology, retail, business, and Amazon Web Services. 

Amazon is also leasing space in Domain 8 and Domain​ 10. 
Free Land... Data! Texas, Louisiana, Alabama, Mississippi
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Copyright © 2022, All rights reserved.
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 Wiley. 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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