Three recent charts from Dallas Fed regarding the Texas Economy. Texas continues to hit on all cylinders for 2018.
Energy indicators improved in the first half of April, with oil prices rising the week of April 20 to highs last seen in 2014. The drilling rig count also continued to pick up, reaching a three-year high of 509.
The Texas Business-Cycle Index, a composite of state payroll employment, the unemployment rate and gross state product, is an aggregate measure of underlying economic activity in the state. The index increased at an annualized 5.4 percent in March, its fastest rate since November 2014 and well above last year’s pace of 4.4 percent.
The median price for Texas homes inched up slightly to a new high of $231,972 in February. Home inventories across the state remain below the six months considered to be a balanced market. Existing-home sales increased slightly in February and remain near the all-time high set at the end of 2017.