Texas Property Values Up

AUSTIN (Austin American-Statesman) – The state comptroller's estimate of statewide property values showed an increase from $1.67 trillion in 2010 to $1.69 trillion in 2011 — a 1.3 percent difference.

According to the Austin American-Statesman, state budget writers had expected property values to drop 1 percent last year.

Property values affect how much funding schools receive, and although Joe Wisnoski of Moak Casey & Associates, a school financing consulting firm, said the increase will likely make "very, very little difference in the bottom line of school districts," others say it could still be a positive sign for Texas.

We're certainly above the trend line across the board, but it's still early," said Dale Craymer, president of the business-backed Texas Taxpayers and Research Association. "If current trends hold, we will be in relatively good shape."

AUSTIN EXISTING HOME SALES UP 10 PERCENT

AUSTIN (Austin Board of Realtors) – Sales of existing single-family homes in Austin last month were up 10 percent over January 2011, according to the MLS report released today by the Austin Board of Realtors (ABoR).

HOUSTON: EIGHT MONTHS STRAIGHT OF INCREASED HOME SALES

FT. WORTH: HOME SALES UP 5%

Ft. Worth Sales Data

Date Sales Dollar Vol. Average Price Median Price Total Listings Mo. Inventory
1/12 468 $62,573,334 $133,700 107,300 3,484 5.2

Feb. 2003 last time mo. Inventory was at 5.2 (12/11 as well); 1/1990 months inventory 17!

Notes: Data represent Multiple Listing Service housing activity only. Residential data include single-family, townhouses and condominiums. "-" represents no or underreported data.

Source: Real Estate Center.

Latest USA Economic News

Jan. 2011 posted based on 2011 third qtr.:

Business investments 15.7+

Residential Construction 1.3+

Exports 4.7+

Imports 1.2+

Gross Domestic Purchases (GDP) 1.8+

Personal Savings Rate 3.9+

Productivity of Non-farm 2.3+

Productivity of Manufacturing 5.0+

Housing starts: from 585 in 2010 to 685 in 2011

Mortgage rate for 30 year fixed – 3.96%

2010-2030 – 13 million new residents to Texas within the Tex-a-Plex including Dallas – Ft. Worth – Austin – San Antonio – Houston

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