Stephenville homes are in more demand now than ever, and the booming Texas economy has played a significant part in the upswing within many Texas industries, the real estate market being among those most affected. According to the Texas A&M research center, the Texas economy gained 228,500 nonagricultural jobs from May 2011 to May 2012. The annual growth rate for those jobs was 2.2%, which is almost twice as much as the national average.
Another reason why Stephenville homes are more attractive is that the unemployment rate in Texas has dropped to 6.9% in May 2012 from 8.1% in May 2011. The city with the lowest unemployment rate is Midland, which is followed by Odessa, Amarillo, Lubbock, San Angelo and Abilene. In Stephenville, the manufacturing industry is quickly becoming an important center of employment in North Texas.
In terms of job creation, the logging and mining industries ranked at the top of the list. Leisure and hospitality services were also listed as the top employment sectors within Texas. The report concluded that all Texas industries had more jobs in May 2012 than May 2011 except for the information industry. Nonetheless, the thriving economy in Texas is increasing the value of real estate as new employees of Texas industries look for housing on account of the job creation that has taken place.
If you’re in the market for a Stephenville home, please don’t hesitate to contact us right away! We’d love to show you some of our favorite Stephenville homes now on the market.