Economic activity in Texas improved during second quarter 2021 and is expected to continue its strong growth for the remainder of the year. Improved hiring in June resulted in solid second-quarter payroll growth, although joblessness in the Lone Star State was still higher than the national average. Moreover, inflation-adjusted headline wage numbers flattened due to supply bottlenecks, generating price pressures and driving up inflation. On the bright side, oil industry activity grew as oil prices increased and the global economic recovery continues. The relative health of the state's economy and favorable business practices attracted migrants and firms from other parts of the country, bolstering population growth and housing demand.
Read more...Texas Quarterly Apartment Report 2Q2021 via Real Estate Center
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