Home prices, job sector improve in Houston during May

While a recent report from the U.S. Conference Board revealed a paltry market for jobs throughout the country, a separate report from the Federal Reserve Bank of Dallas showed improvements in the Houston real estate and job sectors.

According to the report, homes prices for Houston properties rose slightly, moving up to $151,220, while employment grew by an annualized rate of 3.2 percent during May. Overall, the Greater Houston economy now boasts more than 2.5 million jobs.

"Should that pace continue in the second half of 2011, Houston will have added nearly 84,000 jobs this year," the Federal Reserve's report states.

Real estate expert Linda Jamail Marshall referred to Houston's economy as experiencing "continued stability."

The Dallas Fed relayed that economic activity in the greater Houston region was up by an annualized rate of 5.6 percent during May, which shows that the nation's fourth-largest city avoided much of the country's economic distress experienced recently.

"Houston has always held its own because of diversity in the job market," Marshall relayed.

Courtesy of 2M Realty News