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Houston Economy, Housing Sector Making Strong Recovery

by Houston Agent

The Houston-Sugar Land-Baytown metro has reported positive housing and economic growth in 2010 Q4.

Houston Skyline

Houston Skyline - Image by Bilderbuch/Design Pics/Corbis

According to recent data from Brookings‘ Metropolitan Policy Program, Houston was ranked No. 8 in change in housing prices since 2009 Q1, compared to America’s 100 largest metro areas. The Houston metro posted a -5.9 percent change in prices, compared to -23.6 percent in the top 100 metros and -18.5 percent nationally.

Houston showed 3.70 REOs per “1,000 mortgageable properties,” according to Brookings. This puts Houston at No. 53, compared to 5.19 REOs per 1,000 mortgageable properties in the top 100, and 4.23 REOs per 1,000 mortgageable properties nationally.

Houston has also fared well in terms of employment. Since peak employment rates in Q3 2008 the city’s employment rate has dropped 3.5 percent, compared to a 6.3 percent decrease in the top 100 and a 5.3 percent decrease in the U.S. average. This puts Houston at No. 18 in this category out of the top 100 metros.

 

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