Houston Bucks Slowdown Among Nation's Biggest Metro Areas

A new study by the Brookings Institution shows Houston bucked a second-quarter trend that saw the rate of recovery slowing across much of the country.

Houston ranked number two out of the nation’s hundred largest metro areas in terms of the strength of its recovery, according to the latest edition of the Brookings MetroMonitor. Research analyst Alec Friedhoff says even that may understate how quickly Houston is coming back from the Great Recession.

“The first in our rankings is actually New Orleans. Part of that is because its recession buyer metrics center around Hurricane Katrina. And so it’s been recovering for much longer from that devastation.”

The report notes that metro areas across Texas generally outperformed the national average. Friedhoff says that’s in part because of strong employment tied to the oil and gas industry. He also credits the state’s more conservative lending practices with helping Texas avoid the worst of the housing bust.

Home prices acted as a drag on most other regions of the country between April and June, with nearly ninety percent of metro housing markets hitting new lows.

Bio photo of Andrew Schneider

Andrew Schneider

Business Reporter

Andrew Schneider joined KUHF in January 2011, after more than a decade as a print reporter for The Kiplinger Letter...