January 11, 2019
The San Antonio Business-Cycle expanded at a 3.7% annualized rate in November 2018, 1% above the rate reported in October 2018, and above its long-term average of 3%. According to analysts with the Federal Reserve Bank of Dallas, the expansion could be tied to strong job growth, continued low unemployment and increasing housing prices.
The job growth increased by 2.7% during the three months ending in November 2018, and 1.4% year to date. Meanwhile, the 3.2% unemployment rate was “significantly lower than the Texas and U.S. rates of 3.7%,” Fed analysts noted. Mining continued to add jobs at a strong rate, increasing by 7.1% over the three-month period.
The median home price stood at $227,342 in November 2018, a 2.4% year-over-year increase. Home inventories were at 3.5 months’ supply, below the six months that make a balanced market.
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