Houston Metro Real Estate Market Continues to heat up!
There are currently:
17,582 Single Family homes for sale
11,903 homes pending sale
27,796 Homes sold in 2014
A home builder announced Wednesday that it plans to build a 500-home community to help meet the expected demand from the activities of Exxon Mobil and other energy companies north of Houston
"We continue to see steady growth in new home sales and certainly adding a Taylor Morrison neighborhood to the master plan will be a big plus going forward,” Harmony General Manager Bob Douglas said in a statement. “New homes in Allegro at Harmony are expected to address the needs of families moving to the area for the nearby ExxonMobil corporate campus, Anadarko’s second tower and for other major employers which have expanded or relocated to South Montgomery County.”
Treasuries and MBSs opened weaker
this morning and early activity in stock index futures also weaker.
Setting up for the May employment on Friday; markets
adjusting positions going into what is likely to be a busy Thursday and Friday.
Thursday the ECB is widely expected to announce that it will lower interest
rates and probably a bond buying program. The EU economies, except Germany and
France, are struggling but the big concern is the region is moving toward
deflation; Mario Draghi has made that his major fear. Deflation in the region
will further reduce any economic growth potential. Markets believing Draghi
will lower the 18-nation currency bloc’s official rate toward zero and take the
deposit rate negative for the first time. While the central bank’s lending
survey showed conditions for new loans stabilized in the first quarter, lending
to companies and households has been contracting for almost two years.
The May employment report on
Friday is expected to show NFP job growth at +213K and private job
growth +215K, tomorrow ADP will report its private jobs data with estimates at
+210K. The ADP report, pending how it is reported, many times causes analysts
to revise the BLS outlook. Based the present forecasts, if they are reported as
estimates suggest job growth in May will be less than April improvements. The
unemployment rate is largely ignored these days as a reliable indicator of
employment; more are simply dropping out of the work force for various reasons
(retirement, many just giving up looking), if a person surveyed says he/she has
not looked for a job in the last month, he/she becomes invisible as far as the
BLS is concerned. What continues to amaze though, is how much the Fed and media
continue to make out of the unemployment percentage.
It never hurts to remind;
the US economy is tied directly to global economies, there is no such thing in
the world today of an independent economy. The US growth is tied to how China,
Europe, and emerging markets are doing. Our economy can only grow to a limited
degree if Europe and China are slowing; China is slowing to about a 7.0% growth
rate from 14% a couple of years ago, Europe’s growth is about to go negative
and deflation is a real possibility, reducing any growth potential. Meanwhile
the US stock indexes continue to make new all-time highs with Q1 GDP -1.0%. Q2
is expected to be positive and economists (those that have about a 35% rate of
success on forecasts) continue to expect US growth at 3.0% to 3.5% this year.
That will not happen—period!
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