The North Texas housing market has enjoyed a flourishing summer buying season, and its benefits have led to far-reaching advantages for the local economy as a whole, including in the form of job creation.
According to a recent piece from Housing Wire, Texas as a whole added 21,400 jobs in July, which was a 2.3 percent increase compared to the 12,600 jobs added in the Lone Star State in June.
Citing data from the Federal Reserve Bank of Dallas, the news source stated that as a whole, Texas added 131,900 jobs on a year-over-year basis per the Federal Reserve Bank of Dallas’s seasonally adjusted and benchmarked payroll job figures.
Throughout 2012 and 2013, home buyers and sellers in North Texas have seen increasing competition for available homes for sale. This trend, along with increasing employment figures for the region, point to a situation where strong job opportunities are fueling home buying activity.
This has created a situation where the housing market and local economy are on an upward swing. And in order to meet growing demand, new home construction and building permits are striving to keep pace, which in turn is further adding to employment figures as more jobs are available in the construction field.
The news source stated that construction comprised 5.5 percent of all jobs created in Texas on a yearly basis. Also, the unemployment rate has dropped in numerous Texas metro areas in July, with the biggest drop-offs seen in El Paso and Brownsville – Harlingen.
As part of the North Texas area, Stephenville has enjoyed the uptick in housing market activity as well as employment opportunities. And with the new school year starting, and Tarleton State University resuming classes, the local economy has boomed with the influx of new consumers.
See for yourself just why Stephenville is such a great place to live. Contact me today to learn more about Stephenville homes for sale and to get started on your grand tour.