Source:   Forbes/HAR Communications Dept

Texas dominates Forbes’ latest ranking of the 20 fastest growing metro areas in America in terms of population and economy.

To compile its list, Forbes reviewed the nation’s 100 most populous Metropolitan Statistical Areas (MSAs) and rated them based on six metrics. Using data from Moody’s Analytics, Forbes estimated rate of population growth for 2012 and 2013, the rate of job growth in 2012 and the rate of gross metro product growth, or economic growth, for 2012. Also factored were federal unemployment data and median salaries for local college-educated workers courtesy of Payscale.com.

Not surprisingly, cities in Texas — which welcomed more than 427,000 newcomers from August 2011 to July 2012, according to the U.S. Census Bureau — dominated the list.

Houston ranked No. 2, behind Austin, followed by Dallas in third place and San Antonio in ninth.  Robust labor markets, unemployment rates under 6% (well below the national average), no state income tax, a business-friendly regulatory environment, and strong population inflows all contributed to Texas towns’ high rankings

Read the complete Forbes survey online here.

National Pending Home Sales Down Month-Over-Month in December

U.S. pending home sales fell 4.3% in December compared to November, with low inventory cutting results, according to data released Monday by the National Association of REALTORS^® (NAR). 

NAR’s pending-home-sales index declined to 101.7 in December from 106.3 in November. A reading of 100 equals the average level of contract activity in 2001, when NAR started tracking these data. 

"Supplies of homes costing less than $100,000 are tight in much of the country, especially in the West, so first-time buyers have fewer options," said NAR Chief Economist Lawrence Yun. "We expect a seasonal rise of inventory in the spring to help, but a seller's market may be developing." 

Despite the recent decline, pending sales were 6.9% higher than during December 2011.

Weekly HAR Market Stat

Real estate professionals are faced with a clear choice nowadays. They can either leverage the power of data to deliver excellent value, optimal decision-making and real market understanding to their customers, or they can watch from the sidelines while the competition does. Understanding market trends allows you to "become the expert," capturing more leads  and appealing to a wider demographic. Since there's no time like the present to start better understanding the marketplace, let's take a gander at what transpired the other week.

Pending Sales:  In the Houston region (for the week ending January 20):

New Listings decreased 0.9% to 1,976

Pending Sales increased 38.4% to 1,525

Closed Sales increased 20.7% to 881

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