Watkins Talk - The Real Deal on Real Estate

TEXAS CRANKING OUT JOBS

 COLLEGE STATION (Real Estate Center) – Texas was responsible for 19.4 percent of the total jobs created nationwide from September 2010 to September 2011, according to the Real Estate Center's latest Monthly Review of the Texas Economy.

Texas gained 248,800 nonfarm jobs during the period, an annual growth rate of 2.4 percent compared with 1.1 percent for the United States.

The state’s private sector added 281,400 jobs, an annual growth rate of 3.3 percent compared with 1.7 percent for the nation’s private sector.

Texas’ seasonally adjusted unemployment rate increased to 8.5 percent in September 2011 from 8.2 in September 2010. The nation’s rate decreased from 9.6 to 9.1 percent.

All industries except the information industry and the state’s government sector had more jobs in September 2011 than in September 2010. The state’s mining and logging industry ranked first in job creation, followed by construction and the professional and business services industry.

All Texas metro areas except Abilene, Wichita Falls and Killeen-Temple-Fort Hood had more jobs in September 2011 than in September 2010. Victoria ranked first in job creation, followed by Corpus Christi, Laredo, Odessa and College Station-Bryan.

The state’s actual unemployment rate in September 2011 was 8.4 percent. Midland had the lowest rate followed by Amarillo, Odessa, College Station-Bryan and Lubbock.

The report was written by Research Economist Dr. Ali Anari and Chief Economist Dr. Mark Dotzour.

DFW HOME FORECLOSURES DOWN 10 PERCENT FROM 2010

  DALLAS (Dallas Morning News) – A recent study by the Dallas Morning News suggests that DFW's housing market woes may have hit bottom.

According to the study, home foreclosures in the first half of this year were down more than 10 percent from the same period last year, and more than 25 percent from the same period in 2008.

Lenders foreclosed on more than 7,800 DFW homes during the first half of this year, reports Addison-based Foreclosure Listing Service. The total value of those properties was almost $779 million.

Foreclosure rates are highest in places such as Celina, Anna, Princeton, Lavon, Little Elm, Lancaster, Glenn Heights, Forest Hill, Blue Mound and Fate.

D'Ann Petersen with the Federal Research Bank of Dallas said foreclosures bear watching and may remain elevated until there's sustained improvement in the housing market.

"The housing market is still wobbly, but it does appear to have reached a bottom," she said.