Real Estate Tips

Texas' economy was in better shape at the end of the second quarter than the first. Unemployment inched down while job growth continued in June, albeit at a slightly slower pace than the previous month. The energy sector's payrolls contracted for the fourth consecutive month, although oil prices rallied considerably. The service sector, while still lagging behind pre-pandemic employment levels, added 228,600 jobs. Real retail sales were only half a percent lower than all-time-high levels at the start of the year. Commodity exports, however, remained diminished. In comparison, housing sales rebounded 30 percent and are on track to make a full recovery in July. The Real Estate Center's Texas weekly leading economic activity index also projected continued improvement, but the path of recovery could be hindered by possible upsurges in COVID-19 cases.