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Shine Team Realtors Blog

Monday, September 24, 2018   /   by Scott Shine

Texas employment still growing

(Texas Workforce Commission) – The Texas economy added 32,000 seasonally adjusted nonfarm jobs in August, marking 26 consecutive months of employment growth.

According to data from the Texas Workforce Commission, the state’s seasonally adjusted unemployment rate was 3.9 percent, down from 4 percent in July. Over the year, the state added 394,500 jobs for an annual employment growth rate of 3.2 percent.

The Texas metro with the lowest nonseasonally adjusted unemployment rate was Midland at 2.2 percent. McAllen-Edinburg-Mission had the highest at 6.6 percent. The mining and logging industry saw the largest seasonally adjusted growth in employment from August 2017 to August 2018, growing 15.2 percent. The information industry was the only one to lose jobs with employment dropping 2.8 percent over the year.

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Friday, September 14, 2018   /   by Scott Shine

Texas home sales, prices continue to rise

AUSTIN (Texas Association of Realtors) – Texas home sales and median prices continued to rise in second quarter 2018, according to a report from the Texas Association of Realtors.

Across the state, 100,227 homes were sold in the second quarter, up 2.8 percent over the year.

The median sales price increased 4.4 percent to $238,000.

Real Estate Center Chief Economist Dr. Jim Gaines said, “Home sales activity remained strong for the second quarter of 2018. The demand for housing remains at an all-time high, but statewide we’re seeing a slower rate of increase in sales compared to previous quarters due to the lack of inventory of properties for sale.”

Of all homes sold, 30.2 percent were priced from $200,000 to $299,999, and 29.2 percent were priced from $100,000 to $199,999.

Texas active listings increased 0.3 percent over the year to 110,330 listings. Homes spent an average of 87 days on the market. Months of inventory fell 0.1 months to 3.9 m ...

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Friday, July 13, 2018   /   by Scott Shine

Austin new home of Army Futures Command

Austin new home of Army Futures Command WASHINGTON (Defense News) – The new four-star Army Futures Command (AFC) will be in Austin.

The location will consolidate the Army's entire modernization process under one roof. U.S. Army Secretary Mark Espen said in a July 13 press conference that Austin's top-tier academic institutions, cutting edge industrial, innovative private sector, and culture make the city a good fit for the facility.

"The Army chose Austin as the location for the AFC headquarters because it not only possesses the talent, entrepreneurial spirit, and access to keep partners we are seeking, but also because it offers the quality of life our people desire and a cost of living they can afford," said Epsen.

The creation of the AFC is the Army's most significant reorganization effort since the U.S. Army Forces Command and Army Training and Doctrine Command's creations in 1973.

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Tuesday, June 26, 2018   /   by Scott Shine

Housing, economic outlook remain steady in second quarter

WASHINGTON (National Association of Realtors) – Three-fourths of Americans believe now is a good time to sell a house, says the National Association of Realtors' (NAR) latest Housing Opportunities and Market Experience (HOME) survey.

Around 68 percent of Americans believe it's a good time to buy a house.  Optimism is higher among older buyers (65 or over) and those living in the South (73 percent) and Midwest (71 percent).

According to NAR, affordability and low inventory are eroding buyer confidence. A near high of 58 percent of households believe that the economy is improving—slightly down from 60 percent last quarter but up from 54 percent last year. People in rural areas are more likely to view the economy as improving (63 percent) than in urban areas (51 percent).

The HOME survey’s monthly Personal Financial Outlook Index, showing respondents’ confidence that their financial situation will be better in six months, dropped slightly from 63. ...

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Tuesday, June 26, 2018   /   by Scott Shine

U.S. new-home sales hit second-highest level since recession

WASHINGTON (National Association of Home Builders) – New-home sales rose 6.7 percent in May to a seasonally adjusted annual rate of 689,000 units after a downwardly revised April report, according to data from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.

This is the second-highest sales report since the Great Recession. Last month, new-home inventory was 299,000—a 5.2-month supply. The median sales price was $313,000.

Regionally, new-home sales rose 17.9 percent in the South.

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