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In January, inflation increased with the CPI rising 3 percent year over year (YoY) and core inflation up 3.3 percent.

In a sign of stabilization, Texas’ home sales rose significantly in December to deliver a strong fourth-quarter finish going into 2025.

Home sales typically cool off by October following the busy summer homebuying months. This year is a little different as sales in both September and October came in higher than they did during the summer.

Texas total nonfarm employment finished the year with strong growth. December’s unemployment rate and labor participation rate held steady at November levels. Overall inflation continued to expand.

Home sales typically cool off by October, but this year is a little different with sales in both September and October higher than they were during the summer. The rate of new listings is still on the rise resulting in rising inventory levels.

The Texas job market made minor gains, adding less than 1 percent to employment. Unemployment ticked up to 4.2 percent after settling at 4.1 percent since July.

Like last quarter, border employment grew in 3Q2024 but not enough to prevent an increase in the unemployment rate. Housing sales had a worse second quarter this year than last year, and home prices increased in two of the four border metros.

Texas total nonfarm employment dipped in October after two months of growth. Despite the loss of jobs, the unemployment rate held steady at 4.1 percent and the labor force participation rate climbed 64.6 percent. Inflation remained resilient and failed to decrease toward the 2 percent target rate.   

Texas total nonfarm employment expanded for the second consecutive month, but the unemployment rate remained steady at 4.1 percent for the third month in a row. The inflation rate continues to make progress with the Consumer Price Index (CPI) dropping to 2.4 percent year over year (YOY) in September from 2.5 percent YOY in August. Home sales bounced back after falling in August.

The third quarter ended with an increase in home sales. Pending sales had a stronger increase, which could mean another positive month in October. Home prices increased slightly, and new listings decreased after stronger growth earlier in the year.