When Will The Houston Texas Apartment Specials End?

Houston Texas Apartment Specials

When will the Houston Texas apartment specials end? Probably not as soon as many local economists are hoping for. I will explain why, but before I do enjoy this interesting podcast with the Houston Chronicle’s real estate reporters Nancy Sarnoff and Erin Mulvaney. In this podcast Bruce McClenny offers some nice historical perspective of the Houston apartment market and why … Read More

Monkey Business – Expert Says Affordable Homes Are Going Away

Affordable Homes

Affordable homes are going away. With the prospect of rising rates, now is the time to buy a home. That is apparently the opinion of Dr. Luis Torres, a research economist with the Real Estate Center at Texas A&M. Torres, in a rather interesting piece in the Houston Business Journal seems to be confident that Houston’s real estate market is on … Read More

Average Houston Worker Earnings Decline In 2016

Houston Worker Earnings

Through the third quarter of 2016, earnings for the average Houston worker continued to lag wages for the prior year, about $51 less than what workers earned in the same period in 2015. Texas Workforce Commission numbers also show that Houston added a total of 14,800 jobs for the year, well shy of what many economist were projecting at the … Read More

Houston Experiencing Falling Home Prices, Declining Wages

Average Weekly Earnings Houston Texas

A few days ago I wrote about the fact that Houston home prices are rolling over. Home prices aren’t the only thing shrinking in Houston, because average wages are also declining in 2016. Average weekly earnings in the Houston MSA were year-over-year negative in both the first and second quarter of the year. The chart above shows how paychecks for … Read More

New Home Sales Softening, Higher Rates Won’t Help

new home sales

New home sales have rebounded nicely in 2016, but recent developments suggest the new home market could be looking at more softness ahead. In recent posts I detailed how the Census numbers for new home sales were likely overstated, and I was proven correct when the most recent report noted a dramatic downward revision of new home sales during the … Read More

Houston’s Bartenders And Waiters Employment Recovery Continues

The Houston area has now added 20,100 jobs year-over-year. That’s the good news coming out of the latest job numbers for Texas through September. The bad news for Houston is that ALL of the employment growth in Houston since September of last year is accounted for in the leisure and hospitality sector. The “bartenders and waiters” category has actually contributed 20,700 … Read More

Katy Texas Real Estate Market September 2016

Katy Housing Market

Home sales slowed throughout the Houston area in September, and the Katy Texas housing market was particularly soft during the month. While Houston homes sales volume declined  2 percent compared to last year, Katy saw a 7 percent year-over-year decline in sales volume. Closings of new construction in Katy dropped 28 percent compared to September of last year. On top … Read More

Houston Employment Growth Remains Weak, 0.4% In July

In the latest Labor Market Review for July 2016, we found that the Houston MSA region saw an annual job growth rate of only 0.4 percent. Houston employment numbers remain some of the weakest in the state this year. The good news is that Houston has not lost jobs overall in 2016, at least not yet. That is what’s happening … Read More

Over 20 Percent Of Houston’s Working-Age Millennials Living With Parents

Chalk this one up to the crapification of the housing sector and the economy in general. The latest data on working-age millennials in Houston Texas shows that 21.2 percent of young working adults are living with their parents. There are several factors in play here, but they all center on a bifurcated economy and housing market that has not served … Read More