BY THE NUMBERS Jobs
July MSA jobs increased from 4,217,600 to 4,273,000 , according to the latest figures published by the Texas Workforce Commission . This marks a 1.31 % year-over-year ( YoY ) increase compared with July 2023 , a net increase of 55,400 new jobs . Over the past five years , the job growth rate has increased at an average annual rate of 2.47 %. In addition , the unemployment rate for July increased to 4.09 % from 3.93 % in 2023 . ( Texas Real Estate Research Center )
Average Hourly Earnings
Texas : $ 32.91 U . S .: $ 34.92
Total Employed ( NSA ) Total Nonfarm Jobs ( NSA )
Manufacturing
Texas factory activity remained flat in July as indicated by the Texas Manufacturing Outlook Survey , with the production index at -1.3 signaling stable output .
Key indicators like new orders and shipments declined , and while employment showed some improvement , overall business conditions continued to deteriorate with increasing uncertainty and mixed expectations for the future . ( Federal Reserve Bank of Dallas )
In July , average hourly earnings for Texas employees on private nonfarm payrolls increased by $ 1.19 over the year to $ 32.91 , an increase of 3.8 percent . ( Texas Labor Market Review )
Housing
Sales volume for single-unit residential housing increased 4.63 % YoY from 8,061 to 8,434 transactions , while year-to-date sales reached a total of 54,317 closed listings . Dollar volume rose from $ 4.08 billion to $ 4.35 billion . The average sales price rose 1.85 % YoY from $ 506,661 to $ 516,015 , while the average price per square foot subsequently rose from $ 213.45 to $ 215.57 . Median price declined 1.69 % YoY from $ 410,000 to $ 403,086 , while the median price per square foot also rose from $ 199.66 to $ 200.46 . Months inventory for single-unit residential housing rose from 2.6 to 4.0 months supply , and days to sell rose from 71 to 78 . ( Texas Real Estate Research Center , Texas A & M University )
Month Activity 2024 2023
July YoY % YTD YoY % July YoY % Sales 8,434 4.63 % 54,317 -0.58 % 8,061 -6.97 %
Dollar Volume $ 4,352,070,045 6.56 % $ 27,227,179,957 2.05 % $ 4.084,195,180 -5.69 %
Median Close Price $ 403,086 -1.69 % # 399,999 0.25 % $ 410,000 -1.20 % New Listings 12,878 15.35 % 86,124 17.92 % 11,164 -17.94 % Active Listings 29,300 48.62 % 24,134 40.09 % 19,715 2.64 %
Months Inventory 4.0 53.77 % 4.0 53.77 % 2.6 18.09 %
Days to Sell * 78 9.86 % 82 -1.20 % 71 31.48 % Average Price PSF $ 215.57 0.99 % $ 212.72 2.20 % $ 213.45 -0.87 % Median Price PSF $ 200.46 0.40 % $ 198.13 1.28 % $ 199.66 -2.74 %
Media Sq . Ft . 2,088 -0.29 % 2,066 -0.67 % 2,094 1.26 %
Close to Original List Price
* Days to Sell = Days on the Market + Days to Close
96.13 % -1.24 % 96.29 % -0.16 % 97.34 % -3.38 %
4