I received an update from the Real Estate Center at Texas A&M University this morning and just want to pass it on. Here are some highlights:
- “The U.S. and Texas economies will continue to expand in 2019 but at noticeably decelerated rates.”
- Texas employment growth should continue at almost twice the pace of U.S employment — 2.7% vs. 1.5%.
- “The Texas housing market slowed in 2018 as sales rose 1.7 percent compared with 4.1 the previous year.”
- “Housing permits for new single-family residential units are expected to slow to a 2.1 percent increase ….” [But permits in the Austin area are forecast to increase by almost 10%!]
If you want more details, here is the complete update report:
I attended another meeting today about the economic outlook for the U.S. and Austin. More on that soon.