Real estate markets follow an ebb and flow dependent upon the variables of local economy. In Houston, where the ebb is currently ebb-ing very hard, job growth has come to screeching halt compared to the rest of the country. Data from the Dallas Federal Reserve published in the Houston Chronicle shows that job growth in the United States rose by 1.8 percent this year. Houston, however, did not enjoy that type of growth. Houston's job market grew by only 0.2 percent this year, according to the U.S. Bureau of Labor Statistics. Bill Gilmer, director of the Institute for Regional Forecasting at the University of Houston’s Bauer College of Business, published a report earlier this year highlighting the epidemic of a slowing job market in the metro area. His report showed trending data back to 2012, when nearly 118,600 new jobs were created in the area. At the time, that was 4.3 percent positive change from the year before. The following year saw another 89,800 jobs added to th...
- Job growth in Houston is 0.2 percent so far this year.
- National growth is an estimated 1.8 percent.
- Phoenix currently has the strongest growing job market, with a 3.6 percent year-over-year rise in June.