Real Estate Center at Texas A&M Releases Report Extolling Texas' Bustling Economy, Says Dallas Area Ranks 6th in Job Growth

Nonfarm employment Dallas Metro

If you want to know why growth in Texas real estate markets is outpacing other states, look no further than our great state’s unemployment rate. Like a mushroom that sprouts overnight, Texas’s seasonally adjusted unemployment rate is 6.5 percent — an entire percentage point lower than the national average, according to the Real Estate Center at Texas A&M University.

Job growth, combined with a healthy financial sector that leads in high-paying jobs, means that more people will be able to afford a mortgage. That’s the conclusion you’re supposed to draw from the report compiled by economists Mark Dotzour and Ali Anari.

But while Dallas real estate is selling like hotcakes, I was surprised that the Dallas-Plano-Irving area only ranked sixth in job growth, with Midland and  Odessa in first and second place, Fort Worth-Arlington in third,  Austin-Round Rock-San Marcos in fourth, and Houston-Sugar Land-Baytown in fifth.

Bone up on the statistics in every market by reading the full report on the Real Estate Center’s website.