Current Conditions in the Texas Housing Sector The views expressed are those of the speaker and should not be attributed to the Federal Reserve Bank of Dallas or the Federal Reserve System. D’Ann Petersen Federal Reserve Bank of Dallas Friday January 9, Friday January 9, 2009
Texas Job Growth Slows
Job Situation Better in Texas
Texas Advantages Spur Faster Growth Good Business Climate Low Cost of Living Central Location Close Proximity to Mexico Good Distribution Facilities Available Land Fast Growing Population
Texas Business-Cycle-Index Decelerates
Texas Housing Market in Decline
Builders Still Pulling Back
Texas Housing Market in Decline
Texas Home Sales Plunge in Recent Months (existing homes)
Texas Home Values Holding Up ( FHFA repeat sales index)
Other Indexes Show Slight Downward Pressure (Case-Shiller Price Index)
Some Downward Pressure on Existing Home Prices
Texas Home Inventories OK
Foreclosures not Creating Too Much Inventory Overall
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Metro Business Cycle Indexes
Energy Prices
Unemployment Rate
Employment
History Shows Texas Outperforms