Texas Economy fourth in nationThe Texas economy ranked fourth in the nation for 2011, according to figures released by the Federal Bureau of Economic Analysis.

The US economy as a whole grew at a rather tepid rate of 1.6% relative to 2010.  And remember, 2% is the official threshold for declaring ourselves Safely-Out-Of-The-Recession.  The Texas economy, however, grew at a stunning 3.3%.  That is more than twice the national average and well out of recession range!

We also ranked...

  •  Number 1 in population growth (1.67%),
  •  Number 2 in real GDP growth ($1.5 trillion), and
  •  Number 3 in employment increases (2.1%).

The Texas economy is now the second largest in the USA, ranking behind California and displacing New York.  Actually, if Texas were a country, we would be the fifteenth largest economy in the world.

If this trend continues, it is great news for us here in Houston and for the Texas economy as a whole.  And it is great news for real estate as well.  Jobs bring in people - and those people need housing - all of which bolsters our housing market and the Texas economy.