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July Home Sales Increase 22 Percent in Texas from 2010

by Houston Agent

Existing home sales in all of Texas were up 22 percent from a year ago in July.

At a time when the national housing market is slowly emerging from a tough stretch, Texas is blasting out of recession, according to new data from the Federal Reserve Bank of Dallas.

In July, existing home sales in the state rose 1.5 percent from June, but those totals were 22 percent higher than the July 2010 totals. National home sales dropped 0.7 percent from June to July in 2011.

Additionally, the Federal Housing Finance Agency said that Texas’ housing price index rose 0.3% from the first to second quarter of 2011. Prices are down 2% from a year earlier.

Employment statistics were also positive for the Lone Star State, which created 25,900 jobs in July after adding 33,000 in June. Though the unemployment rate did rise 0.2 percent, the job growth totals were a stark contrast to national data, which showed zero net job growth for July.

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