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.

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Presentation transcript:

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

Thank You Visit

Metro Business Cycle Indexes

Energy Prices

Unemployment Rate

Employment

History Shows Texas Outperforms