MARKET REPORT 2012

midland
http://recenter.tamu.edu

2012 Texas Metro Market Overview

Midland

Table of Contents
Introduction.............................................................................................. 1
MSA Map................................................................................................. 2
Demographics......................................................................................... 3
Education................................................................................................ 9
Employment.......................................................................................... 10
Economy............................................................................................... 18
Infrastructure......................................................................................... 19
Multifamily.............................................................................................. 22
Housing................................................................................................. 23
Hotel...................................................................................................... 29
Office..................................................................................................... 30
Real Estate Center................................................................................ 31

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Market reports are updated annually. The Real Estate Center also publishes NewsTalk Texas, a compilation of market
news, which is updated continuously throughout the year. It allows market analysts to access the most current information
available. For more current information about this Metropolitan Statistical Area (MSA) or any of the other Texas MSAs,
please go to http://recenter.tamu.edu/newstalk/.

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2012 Texas Metro Market Overview

Midland
Quick Facts
MSA Land Area (2009 definition)

901.97 square miles

2010 Population Density

151.7 people per square mile

Counties

Midland
Area Cities and Towns

Midland
Sources: U.S. Census Bureau and Real Estate Center at Texas A&M University

Microsoft product screen shot reprinted with permission from Microsoft Corp.

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Lubbock 15. Wichita Falls ANDERSON GONZALES WILSON HARRISON CHEROKEE LAVACA ATASCOSA GREGG FREESTONE COLORADO 19 22 13 LIMESTONE BELL CALDWELL FRIO LA SALLE 3 CASS MARION RUSK COMAL BEXAR MAVERICK TRAVIS BLANCO MORRIS UPSHUR SMITH VAN ZANDT NAVARRO WILLIAMSON KIMBLE WOOD KAUFMAN ELLIS MILAM LLANO GILLESPIE CAMP RAINS FALLS BURNET MASON BREWSTER 11 LAMPASAS HOPKINS ROCKWALL MCLENNAN CORYELL CONCHO BOWIE FRANKLIN TITUS HUNT DALLAS 24 BROWN 21 RED RIVER DELTA HENDERSON BOSQUE MILLS SUTTON 1. Houston-Sugar Land-Baytown 11. Austin-Round Rock-San Marcos 4. Victoria 24. Texarkana 22. Midland 17. College Station-Bryan 7. TWC Edited by Real Estate Center at Texas A&M University -2- MADISON GRIMES WASHINGTON AUSTIN WALLER FAYETTE DE WITT BEE REFUGIO ARANSAS 7 JIM WELLS NUECES KLEBERG JIM HOGG STARR 10 BROOKS 15 HIDALGO KENEDY WILLACY 5 CAMERON LIBERTY CALHOUN MATAGORDA 4 BRAZORIA ORANGE JEFFERSON CHAMBERS FORT BEND JACKSON VICTORIA JASPER NEWTON HARDIN MONTGOMERY HARRIS 23 TYLER SAN JACINTO GALVESTON SAN PATRICIO DUVAL POLK WALKER BRAZOS BASTROP SABINE TRINITY BURLESON GOLIAD WEBB ZAPATA 6 SAN AUGUSTINE ANGELINA WHARTON MCMULLEN 12 SHELBY HOUSTON ROBERTSON KARNES PANOLA NACOGDOCHES LEON LEE LIVE OAK 14.2012 Texas Metro Market Overview Midland MSA Map Metropolitan Statistical Areas (MSAs) DALLAM SHERMAN HANSFORD OCHILTREE LIPSCOMB HARTLEY MOORE HUTCHINSON ROBERTS HEMPHILL GRAY WHEELER 2 POTTER CARSON RANDALL ARMSTRONG OLDHAM DONLEY DEAF SMITH PARMER CASTRO SWISHER BAILEY LAMB HALE BRISCOE COLLINGSWORTH HALL CHILDRESS HARDEMAN COCHRAN LUBBOCK TERRY LYNN COTTLE MOTLEY DICKENS CROSBY GARZA KENT STONEWALL GAINES ANDREWS 9 EL PASO LOVING WINKLER DAWSON HOWARD MARTIN 17 16 ECTOR SCURRY BORDEN MITCHELL CULBERSON WARD CRANE MIDLAND UPTON NOLAN REAGAN IRION REEVES COKE 18 RUNNELS TOM GREEN SCHLEICHER PECOS ERATH JOHNSON COLEMAN COLLIN HAMILTON SAN SABA MENARD CROCKETT VAL VERDE KERR EDWARDS HAYS REAL KENDALL BANDERA KINNEY UVALDE MEDINA ZAVALA DIMMIT GUADALUPE Prepared by the Labor Market and Career Information Department. Corpus Christi 8. Killeen-Temple-Fort Hood 12. El Paso 10. Tyler 23. Brownsville-Harlingen 6. San Antonio-New Braunfels 20. San Angelo 19. Odessa 18. Sherman-Denison 21. McAllen-Edinburg-Mission 16. Laredo 13. Dallas-Fort Worth-Arlington 9. Beaumont-Port Arthur 5. Waco 25. Longview 8 TARRANT LAMAR FANNIN SOMERVELL COMANCHE TERRELL PRESIDIO DENTON PALO PINTO EASTLAND TAYLOR MCCULLOCH JEFF DAVIS WISE HOOD CALLAHAN COOKE HILL STERLING GLASSCOCK HUDSPETH 1 FISHER MONTAGUE PARKER SHACKLEFORD STEPHENS 20 GRAYSON CLAY JACK THROCKMORTON YOUNG HASKELL JONES 25 ARCHER BAYLOR KNOX KING WICHITA WILBARGER FOARD 14 HOCKLEY YOAKUM FLOYD . Amarillo 3. Abilene 2.

5 2007 126.3 3.4 2009 132.996 111.5 2. Census Bureau Texas Distribution by Race and Hispanic or Latino Origin (in percent) Midland MSA Texas 76.S.0 2002 117.380 2.2 2004 120.6 11.2012 Texas Metro Market Overview Midland Demographics Midland MSA Population Population Percent Change Year Population* 1999 117. except 2000 and 2010 2.043 0.009 -1.0 Source: U.4 Select Area Cities City Midland 2000 2010 Growth 2000–2010 (in percent) 94. Census Bureau 2010 -3- 0.401 1.7 37.2 2003 118.9% Households with individuals 65 years and over 21.4 2.757 1.147 17. Census Bureau Households by Type 2010 Midland MSA Average household size *July 1 population estimates.4 Black or African American 6.S.0% 38.0 10.6 2008 129.7 0.66 2.316 2.8 Asian 1.371 1.2% 21. Census Bureau Source: U.6 .408 1.8 White American Indian and Alaska Native Other Two or more races Hispanic or Latino (of any race) Source: U.872 3.S.2% Source: U.014 1.S.7 12.9 70.1 2006 124.4 2001 116.75 Households with individuals under 18 years 38.7 37.621 - 2000 116.2 2010 136.494 2.1 2005 121.

479 - 2020 133.872 - 2040 145.009 2005 119.094 - 2030 140.138 140.710 2015 129.022 2025 137.595 Sources: Texas State Data Center (February 2009 projection) and Texas Water Development Board (April 2011 projection) -4- 60% 70% .575 124.813 - 2010 124.009 116.633 134.2012 Texas Metro Market Overview Midland Texas Metropolitan Statistical Area Population Growth Forecast.5) Development Board 116. 2010–2030 Laredo McAllen-Edinburg-Mission Austin-Round Rock-San Marcos Sherman-Denison Brownsville-Harlingen Dallas-Fort Worth-Arlington El Paso San Antonio-New Braunfels Houston-Sugar Land-Baytown Texas Killeen-Temple-Fort Hood College Station-Bryan Corpus Christi Amarillo Victoria Odessa Tyler Waco Midland Longview Texarkana San Angelo Lubbock Beaumont-Port Arthur Wichita Falls Abilene 0% 10% 20% 30% 40% 50% Source: Texas Water Development Board (April 2011 projection) Midland MSA Projected Population Year 2000 Texas State Data Center Texas Water (Scenario 0.132 145.659 2035 142.

7 5.245 165.711.647 17.877 9.622 800.508 25.749 136.946.851.S.660 23.290 16.2012 Texas Metro Market Overview Midland Texas Metropolitan Area Population Change 2000 2010 Percent Change 1.3 McAllen-Edinburg-Mission 569.289 37. Census Bureau -5- .0 El Paso 679.117 250.1 Laredo 193.252 3.090 388.885 228.306 -0.304 29.6 Brownsville-Harlingen 335.716.706 209.773 23.2 Longview 194.7 Texarkana 129.1 Source: U.800 26.280 428.595 120.3 Waco 213.1 Beaumont-Port Arthur 385.714 405.220 21.715.2 San Angelo 105.009 136.304.5 Amarillo 226.3 Corpus Christi 403.714 20.369 10.0 Sherman-Denison 110.1 San Antonio-New Braunfels 1.042 214.249.6 Lubbock 249.522 249.4 Killeen-Temple-Fort Hood 330.769 36.142.524 151.9 Metropolitan Area Austin-Round Rock-San Marcos College Station-Bryan Dallas-Fort Worth-Arlington Texas Victoria 111.517 234.1 Odessa 121.123 137.906 10.185 6.890 14.2 184.663 115.407 5.300 22.463 774.6 Houston-Sugar Land-Baytown 4.8 20.0 Midland 116.087 4.2 Tyler 174.881 10.820 24.371.745 0.227 406.544 6.130 13.3 Abilene 160.700 284.763 1.872 18.703 2.9 Wichita Falls 151.161.823 5.384 3.781 111.

0 55 to 64 years 15.1 0.0 45 to 54 years 19.629 16.3 5 to 17 years 26.459 0.4 5.2 6.9 0.2012 Texas Metro Market Overview Midland 2010 Geographic Mobility Midland MSA Percentage Moved From: 1 year and over Total Population Same County Different County in Texas Different State Abroad 134.2 0.7 5.7 35 to 44 years 16.066 4.9 5.8 0.0 0.0 65 to 74 years 7.3 1 to 4 years 8.1 0.424 1.9 0.014 22.8 0.5 3.0 18 to 24 years 14.4 0.6 1.0 0.6 10.830 16.722 12.6 0.0 2.155 9.0 Source: American Community Survey 2010 -6- .9 0.8 0.4 2.706 11.9 0.4 1.439 16.4 75 years and over 7.0 0.0 25 to 34 years 19.5 11.4 0.2 0.8 1.0 0.

314.989 9. Ark.2 Texarkana.377 13.0 Victoria 113.923 6.454 6.5 Austin-Round Rock-San Marcos Texas Houston-Sugar Land-Baytown *Population includes one year and over **Percentage migrated includes those moving from a different county within the same state.024 9.1 El Paso 794.662 14.0 Wichita Falls 151.7 Lubbock 284.3 Brownsville-Harlingen 401.877 5.6 Waco 233.385 3.9 Corpus Christi 421.8 1. from a different state and from abroad Source: American Community Survey 2010 -7- .722 6.6 McAllen-Edinburg-Mission 765.8 Dallas-Fort Worth-Arlington 6.527 2.484 5.4 Midland 134.899.057 8.476 10.7 San Angelo 110.841 5.2012 Texas Metro Market Overview Midland 2010 Texas Metropolitan Area Geographic Mobility Total Population* Metropolitan Area Percentage Migrated** College Station-Bryan 226.4 Longview 211.075 6.1 Laredo 247.546 6.686 6.8 5.953 7.411 5.887.3 24.9 Tyler 207.8 Odessa 134.9 Beaumont-Port Arthur 384.075 6.088 5.919 14. 134.703.0 Abilene 163.153 3.129.3 Amarillo 248.925 9.5 Sherman-Denison 119.2 Killeen-Temple-Fort Hood 400.922 9. Tex.-Texarkana.5 San Antonio-New Braunfels 2.381 6.

063 07 2.307 1.582 20073.367 20081.582 1.599 686 10.442 2.210 1.081 148 2.800 20072.522 20033082003520 8.069 201 2.414 1.413 20083.167 75 2003 967 2003 106 7.368 2002610 8.391 2006 2006 1. 2011 Patterns STATES bound Outbound 1.118 2.4852006 2006 2.230 1.188 20092212009 4. FLORIDA – More than 55% of total shipments moving out of IDAHO the state (subtotal on UTAH top).533 3.101 1.994 2011215 2010 206 2009 295 2008 238 2007 214 2006 244 Inbound Outbound 3992011 3472010 3462009 3642008 4992007 6822006 466 454 428 373 478 432 512 470 596 510 733 539 Outbound Year Inbound 2011580 2010 448 2009 503 2008 552 2007 630 2006 658 629 562 562 650 707 681 Outb .528 INDIANA IOWA r Outbound Inbound Outbound Year Inbound Outbound Year Inbound Outbound Year Inbound Outbound Year Inbound Outbound Year Inbound Outbound Year Inbound Outbound Year InboundInbound Outb bound Outbound Year Inbound Outbound Year Inbound Outbound Year Inbound Outbound Year 11 2.082 105 2011164 7.198 2.847 207 2.014Outbound 107 Inbound 2003 198 933 75 2002 231 856 115 CA 6758 7803 UT 580 466 CO KS 1207 975 684 629 ON 878 602 OH 2876 1890 3.302 20081692008364 8.206 2011 ound and outbound individually represent 55% or less of total shipments.565 8.758 252 1.721 1.178 2007 5636 4.091 05 3.583 Outbound – More than 55% of total shipments moving out of the state (subtotal on top).126 939 974 1.206 786 2.368 316 5.710 14 ME NS 4.920 1.716 166 3.371 07 2.529 20562010 851 230 HAWAII 2009 2009801 2009513 6.343164 210 1.994 20061.405 4.5302007 2007 2.665 1.710 252 20066.677 2.176 1.160 2010 7.541 Inbound – More than 55% of total shipments moving into the state (subtotal on bottom).012 1.876 2.549WI 971 710 1.890 2.386 1893 2011 112 3.271 6.049 06 2.594 20062942006682 9. Outbound – More than 55% of total shipments moving out of the sta e than 55% of total shipments moving into the state (subtotal on Outbound bottom).165 1.7052008 2008 2.023 400 7.712 1.345 2.682 2.492 3.128 FL 3.959 20033632003 8.008 1.012 1.642 2010 7. 11 1.264SD 215 1.773 1.529 2.101 STATE 121 2004 159 1.762 20043772004 9.7162006 183 5.0832010 4.942 2010 20102302010 2010 2010 7.864 20063.407 302 1.036 20031.855 3.4032011 2.937 2.109 1.652 3.530 VT 4.552 6.289 Interstate Household Goods Moves from January 1.831 510 2007 707 2.922 503 8.771 1.522 3.526 437 6.302 2005 258 3.165 1.210 138 2006 721 2006 120 8.086 1. – Outbound Balanced Inbound outboundYear individually represent 55% orOutbound less of totalInbound shipments.009 31 19 801 1.140 82 2008 2008 2.165 347 95 373 562 1.942 20102.959 2003 2003 1. Balanced – Inbound and outbound individually represent 55% or less O SOUTH DAKOTA PENNSYLVANIA IOWA COLORADO r Outbound Outbound Year Inbound Inbound Year Year movingInbound Year andInbound Outbound Year ore thanInbound 55% of total shipments out of the stateOutbound (subtotal on top).247 1.014 933 856 ARKANSAS YUKON Year TERRITORY 0 0 2011 2010 2009 2008 2007 2006 2005 2004 2003 ALASKA 105 2002 169 CONNECTICUT Inbound Outbound 494 481 513 605 706 744 762 714 646 610 BC 572 285 182 477 437 586 641 631 WA 2604 686 2752 610 OR 663 503 786 526 ES Year 2011 AB 304 2010 231 2009 2008 2007 2006 2005 MT 217 2004 204 2003 ID 454 WY 2002 254 399 ARKANSAS CALIFORNIA Outbound Year bound Outbound 2011 169 1. 762 8.834 296 5663 7861 2007 2007 1.063 123 2008 682 2008 253 7.812 1.2712009 1.9222003 2003 2.033 20071.395 1.606 292 1.407 20063022006 6.373 273 2002 2002 3.637 365 6.7.287 20053532005 8.961 9.213 3.95310.009 1.908 126 2009 598 2009 290 6.049 143 2007 818 2007 143 8.036 248 182 2.570 04 3.758 1.582 252 2005 2005 3.825 385 6.908 08 2.289 1.064 338 1.083 218 2.5262009 2009 2.269 2011 151 454 2011 1.811 06 3.405 355 4.044 02 2.178 3.652 2002 356 3.492 NH NY 3702 MA 3.302 1.289 333 3.339 2.5992005 2005 2.343 2004 377 1.231 1.702 QC 2.368183 213 NV 755 703 GEORGIA Inbound Year Inbound 2011 2010 2009 2008 2007 2006 2005 NS 73 2004 39 2003 DE CT 334 1216 2002 252 946 DC 265 591 MD 1863 2552 MA NH 2.496 20092.528 24955% of 525 2002356 2002 Inbound More than total shipments moving into the 589 state ( Inbound – More than 55% of total shipments moving into the state (subtotal on bottom).616 03 3.856 296 20057.342ND 1.210 2.753 9.644 3.742 Balanced – Inbound and outbound individually represent 55% or less of total shipments.086 2009 982009346 6.270 1.373 3.264 2003 363 1.833 432 2009 562 1.712 20052582005790 9. 10 1.248 5.360 2010 2010 75 2010 2010 1.890 2.160 6.287 2005 2005 1.422 267 1794 ILLINOIS INDIANA 267 1365 2575 RI NJ Year Inbound Outbound Year 1987 Inbound Outb Year Inbound Outbound Inbound NC 3975 277 1485 2016 SC 3.367 .360 186 5.897 3.252 95 2010 140 2009 2009 2.6362011 5.036 1109 3386 2.740 2.307 2008605 7.8472009 5.058 1.491 IA NE 522 401 2082 CONNECTICUT DELAWARE 2403 InboundInbound Outbound Year Year Outbound Outbound 946 SK 1.525 467 2005 697 1.337 82 20094.180 20041.2882002 2002 2.391 1.442 1.442 1.342 2005 353 1.866 20063.606 20022922002 7.909 393 7.9612006 2.256 20051.859 20021.714 539 2006 681 2.705 586 6.5422004 2004 2.762 2004 2004 1.004 1.419 20091.273 3.689 2653 PA 2190 WV VA 281 3416 229 4295 GEORGIA MO HAWAII 1036 1511 N J DE MD DC KY 1030 2011 334 AR 572 2010 306 494 MS 552 2009 316 510 LA 1165 2008 385 920 2007 400 2006 277 2005 326 2004 393 2003 365 2002 304 TN ILLINOIS NL 15 Outbound 17 Inbound 2011 2010 2009 2008 2007 2006 2005 2004 2003 MI 1720 2002 1644 IN 1809 1221 IL 3367 2442 InboundInbound Outbound Year 1149 Year Outbound OK 2011 AZ 2011946 2011494 7.689 SOUTH CAROLINAHAWAII DELAWARE IDAHOTEXAS FLORIDA 419 20111435VT 2.291 1.072 20092.213 2008 169 3.126 2010 182 94 2009 170 939 126 2008 183 974 123 2007 218 1.740 1247 2009 98 2.082 2.160 2.842 169 2.483 8.336 1.421 2.594 1.414 2002–487 7.778 304 5.285 6.160 1.2012 Texas Metro Market Overview Midland Interstate and Cross-Border 2011 Migration Patterns – traffic flow by state/province Based on 80.109 105 1.644 410 2004 636 1.277 193 2.403 6.2852010 2.270 2006744 8.422 249 1.140 2.239 2.002 115 2002 937 2002 166 8.289 2006 294 3.092 326 8.322 306 5.888 296 2004 2004 3.653 2011 20102.753 2003 308 3. 646 7.579 188 2.758 20112522011 5.549 2002 2002 1.101 08 2.629 470 2008 650 2.221 629 1 20111122011399 7.302 3.742 1230 8801.753 3.824 1.008 143 2006 192 1.6972007 2.897 176 2007 2007 3.592 1.329 20071702007499 8.819 2.210 20082.056 10 1.834 20082962008 5.491 TH DAKOTA CALIFORNIA OREGON COLORADO Year 1.087 277 7.142 5.841 2.442 151 2011 146 2010 2.385 2002 1.192 1. 714 8.888 3.485 631 9.583 MN1.064 1.526 273 20036.298 1.142 09 1.530 641 8.131 2.329 1.386 3.103 5.216 NM 966 632 1008 2206 481 477 2010 1.273 274 2006 2006 3.803 210 2.100 1.492 2.188 221 1.2772008 -8 5.710 5269170 3.075 438 2003 561 1.697 8.723 6.413 987 2.721 20042652004634 8.755 2.190 2.636 208 170 2010 658 592 94 1.072 721 1.798 09 2.230 151 TX 112 2008 2008 1.290 2004 265 3.582 3.128 NB 14 3.435 1.004 138 2005 171 1.033 185 205 7.757 274 20076.893 5.530 4.026 2.855 AL 20103702 75 3.269 179 5.533 3.8032011 2011663 2011 2.216 MB 1.803 572 6.252 2.644 270 2003 2003 3.522 2679 CT RI 3.538 176 20086.353 2007706 8.541 1.328 2.663 334 5.120 121 2005 799 2005 133 8.290 3.5522008 2.221 3 1.160 67 37 1.542 610 9.864 1.064 20073382007 5.861 2011 1.353 1.419 220 6.288 526 8. 2011 through December 31.702 1758 GA 2.652 2.940 107 2004 994 2004 142 8.522 1.8422007 6.780 270 20047.

7 Bachelor’s degree or higher 20.720 5.344 6.3 25. Fall Semester School 2007 2008 2009 2010 2011 Midland College 5.220 6.2012 Texas Metro Market Overview Midland Education Educational Attainment.784 6. Persons Age 25 and Older (in percent) Level of Education Midland MSA Texas High school graduate or higher 80.4 80.9 Source: American Community Survey 2010 Local College and University Enrollment.061 Source: Texas Higher Education Coordinating Board -9- .

2012 Texas Metro Market Overview Midland Employment Top Employers Midland Employer Category Employees Midland ISD Education 3. October 2010 Top Ten Private Employers Midland Employer Category Midland Memorial Hospital Health Care 1.10 - Employees . Oil and Gas 480 Basic Energy Services Oil and Gas 476 Warren Equipment Companies Holding Company–Manufacturing 464 Source: Midland Economic Development Corporation. Oil and Gas 480 Basic Energy Services Oil and Gas 476 Warren Equipment Companies Holding Company–Manufacturing 464 Chevron Oil and Gas 400 Concho Resources Oil and Gas 380 Plains Marketing LP Oil and Gas 329 Ameritox Lab LLC Pharmaceutical Monitoring 285 Conoco Phillips Mid-Continent Business Unit Oil and Gas 212 Source: Midland Economic Development Corporation. October 2010 .500 City of Midland Government 980 Midland College Education 800 Midland County Government 624 Pioneer Natural Gas Resources USA Oil and Gas 600 Texas Health & Human Services Call Center 500 Key Energy Services Inc.000 Midland Memorial Hospital Health Care 1.500 Pioneer Natural Gas Resources USA Oil and Gas 600 Key Energy Services Inc.

5 Other Services 2% $11.200 7.9 $42.9% Total Annual Growth Rate for Total Nonagricultural Employment 10.8 Education and Health Services 10% Leisure and Hospitality 20% 11% 5% $46.000 8.3 Nov-11 78.700 16.4% 300 4.380 18.800 16.L.220 15.9% 7 250-499 17 5.017 4.4% 300 4.6 4. Transportation.6% 600 3.329 73.0% 100 3.0 12.613.2012 Texas Metro Market Overview Midland Midland MSA December 2011 (Midland) Industry Composition Wages by Industry (in millions) Mining.0% -4. Midland MSA Emp.3% Mining.0% 4 20-49 443 13. and Construction 11% 2nd Quarter 2011 $18.215.500 0 0.070. Unemp.0% -500 -5.9 3.7 $363.681.0 8.7% 285 0 0. Emp.200 100 1.3% 300 4.7 7. Unemp.2 Dec-10 77.F.1% 6 100-249 93 13.575 18.156.100 6. Transportation.9 12.tracer2.400 7. Unemp.0% 2.863 100. and Utilities Information 10% $92.800 69.1% 3 10-19 500 6.7 892.5 11.0% 9 1000+ 3 6.159.900 13.0% 100 3.8 Manufacturing 23% 4% Trade.0% 0.997.0% C.0% 0 0.0% -6.1% Education and Health Services 7.0% Texas U.900 100 1.L.0% -10.700 2.0% 4.500 13.4 3.400 3.292 7.0% 5 50-99 162 11.100 -100 -0.F.4% Information 1.0% 4.3 11.0% 8.799 10.344. and Utilities 2.800 2. and Construction 16.683.0% Leisure and Hospitality 7.11 - .1 Historical Unemployment Rates 12.7 12.100 0 0.373.0% 6.157 8.800 70.0% Available at http://www.400 3.1% 200 7.L.720 9.400 100 1.423.0 $63.100 1.0 8.454.2 4.6 975.000 2.600 7. 8.800 200 7.5 73.2% 2 5-9 799 5.2 153.0% Dec-01 2.800 600 4.1% 0 0 Government 8.191. Rate Sep-11 Mar-11 Dec-10 Jun-10 Sep-10 Mar-10 Dec-09 Jun-09 Sep-09 Mar-09 Dec-08 Jun-08 Sep-08 Mar-08 Dec-07 Jun-07 Sep-07 Mar-07 Dec-06 Jun-06 Unemployment Information (all estimates in thousands) Sep-06 Mar-06 Dec-05 Jun-05 Sep-05 Mar-05 Dec-04 Jun-04 Sep-04 Mar-04 Dec-03 Jun-03 Sep-03 Mar-03 Dec-02 Jun-02 Sep-02 Mar-02 Dec-01 -8. Dec-11 Jun-11 United States (Actual) C.6 7.214 5.com Source: Texas Workforce Commission .3 11.0 139.700 7.5 76.0 Financial Activities 4% Professional and Business Services $115. Logging.600 0 0.0 140.0 9.1 12.9 8.0 12.0% 4.1 3.1 Government Employment by Industry Annual Change Monthly Change $160.0 $31. Logging.0% 6.6 920.000 1. Rate C.000 8.100 3.5 153.4 3.100 1.0 153.5% 14.700 1.2% Financial Activities 3.347.2% 2.6% Manufacturing Trade.4% 1 1-4 Other Services 3.F.7% 8 500-999 10 7.6 75.0% Rate Dec-11 79.300 0 0.506 7.3% 700 5.4% 2.0% Dec-11 Sep-11 Jun-11 Mar-11 Dec-10 Sep-10 Jun-10 Mar-10 Dec-09 Sep-09 Jun-09 Mar-09 Dec-08 Sep-08 Jun-08 Mar-08 Dec-07 Sep-07 Jun-07 Mar-07 Dec-06 Sep-06 Jun-06 Mar-06 Dec-05 Sep-05 Jun-05 Mar-05 Dec-04 Sep-04 Jun-04 Mar-04 Dec-03 Sep-03 Jun-03 Mar-03 Dec-02 Sep-02 Jun-02 Mar-02 0.0% Midland MSA 10.S.1% Professional and Business Services 7. Texas (Actual) Emp.0 13.700 2.500 7.0% -2.4 Industry Size Class Size Class Employees per firm June 2011 Number of Firms Employment % Total in Size Class Employment Dec-11 Nov-11 Dec-10 Actual % Actual % Total Nonfarm 71.0 141.692.

700 16.500 1.600 5.800 6.600 12.200 12.500 KILLEEN TEMPLE FORT HOOD Dec '11* Nov '11 Dec '10 128.300 5.000 5.800 4.000 11.600 4.200 20.500 4.800 AMARILLO Dec '11* Nov '11 113.200 8.200 15.000 6.100 6.500 13.400 15.500 13. The number of nonagricultural jobs in each MSA is without reference to place of residence of workers..100 12.300 MCALLEN EDINBURG MISSION Dec '11* Nov '11 Dec '10 230.200 4.300 5.900 2.200 4.400 1.300 37.700 1.900 4.400 3. INDUSTRY TOTAL Mining. Manufacturing Wholesale Trade Retail Trade Trans.400 BROWNSVILLE HARLINGEN Dec '11* Nov '11 Dec '10 127.500 11.000 3.900 11.400 1.300 4.300 7.800 130.300 14.800 20.300 22.300 36.900 31.800 6.800 23.700 16.100 3. Information Financial Activities Prof.800 8.500 6.100 1.400 5.400 23.500 25.100 6.400 13.300 7.700 19.700 3.000 3.800 1.700 3. & Constr.200 11.600 4.200 33.500 22.S.400 5.800 8.600 Dec '10 88.000 12. Estimates produced by the Bureau of Labor Statistics.000 38.400 1. Logging.100 11.400 20.600 1.000 58. & Constr.300 11.500 5.900 4.600 31.100 20.200 12.700 20.500 Dec '10 97.600 4.600 33.400 4.400 38.600 5.900 2.800 3. & Health Services Leisure & Hospitality Other Services Government T E X A S Texas Metropolitan Statistical Areas Nonagricultural Wage and Salary Employment (Not Seasonally Adjusted) JANUARY 2012 2012 Texas Metro Market Overview Midland .700 11.700 3.200 36.700 5.200 32.800 4.000 Dec '10 65.600 7.800 10.500 5.100 1.100 5.300 7.000 19.300 21.200 EL PASO Dec '11* Nov '11 Dec '10 285.100 10.500 12.900 8.800 12.300 284.100 6..700 21.000 31.300 11.800 1.200 19.100 39.900 8.900 11.200 15.200 1.400 7.900 15.300 13.700 5.300 14.400 1.700 25.000 16.000 14.900 72.000 7.400 4. Information Financial Activities Prof.400 21.200 2.300 11.500 1.400 15.300 3.000 2.100 20.800 2.900 3.600 3.000 5.600 59.600 4.500 Dec '10 180.000 9.900 9.400 Dec '10 99.900 3.200 31.500 37.300 5. & Util.900 160.100 62.000 3.400 2.600 22. & Business Services Educ.200 57.800 7.100 19.500 8.800 20.800 1.400 7.700 8.300 5.200 6.700 2.800 6.400 127.600 11.200 7.700 13..500 3.800 14. Ware.700 5.12 - L A B O R M A R K E T R E V I E W ABILENE Dec '11* Nov '11 62.500 20.800 11.100 31.100 5.000 99.500 4.500 20.000 8.300 1.300 6.700 15.800 10.900 14.200 8.600 16.200 3.600 19. Ware.500 10.600 15.500 5.800 5.700 4.400 16.200 7. & Business Services Educ.700 4.900 23.800 5.700 16.800 15.900 8.100 4.600 13.000 6.800 1.900 5.900 8.500 32.300 3.500 5.100 9.600 28.900 56.100 5. Ware.400 3.800 6.300 16.100 14.600 3.700 11.400 6.200 5.500 13.300 27.400 14.200 14. & Business Services Educ. Logging.000 5.100 28.700 9.500 5.700 32.300 3..900 36.900 31.600 9.300 5.600 3.800 7.700 1.800 2.000 3.000 230.500 15.200 129. Information Financial Activities Prof.200 10.900 68. & Constr.300 15.300 4.200 8.500 8.800 1.800 3.000 10.200 4.300 23.900 6.200 7..700 1.800 4.000 3. & Util.600 3.600 900 900 3.600 129.500 6.400 2.400 4.200 11.600 5.700 33.500 COLLEGE STATION BRYAN Dec '11* Nov '11 98.500 7.600 31.700 9.200 2.900 4.400 3. Manufacturing Wholesale Trade Retail Trade Trans.600 13.400 5.200 17.000 7.200 8.000 17. U.400 1.800 900 900 2.100 20.900 27.400 15..100 BEAUMONT PORT ARTHUR Dec '11* Nov '11 Dec '10 160.300 161.900 LONGVIEW Dec '11* Nov '11 100.900 224.900 12.400 36.600 6.800 5.100 13.400 10.000 20.700 5.200 1.400 19.400 4.200 8.900 11.000 5.700 5.300 3.200 12.600 23.000 187.000 34.500 31.500 900 1.600 12.100 6.800 12.400 127.300 3.800 3. & Health Services Leisure & Hospitality Other Services Government INDUSTRY TOTAL Mining.800 8.800 3.400 6. & Health Services Leisure & Hospitality Other Services Government INDUSTRY TOTAL Mining.800 2.900 6.900 5.500 6.500 500 500 4.700 20.200 2.400 38.600 31.900 20.600 7.300 98.200 CORPUS CHRISTI Dec '11* Nov '11 188.900 15.300 3.000 9.400 6.600 2.800 3.800 19.800 6.500 11.000 9.500 11.600 5.700 22. Department of Labor are disseminated in cooperation with the TWC. Logging.400 7.500 13.200 8.700 23.100 7.500 9.400 6.700 32.000 19..900 LAREDO Dec '11* Nov '11 93.000 4.000 LUBBOCK Dec '11* Nov '11 Dec '10 134.100 5.600 600 4.300 35.100 20.800 20.500 12.800 34.200 12.000 3.100 5.000 16.600 9.300 113.300 1.000 9.900 36.300 5.800 5.400 5.900 10.900 5.800 36.900 2.200 6.100 12.400 1.700 282.900 3.400 67.900 5.800 15.200 11.900 31.600 4.700 11.200 2.000 14.900 31.000 16.400 7.500 5.800 4.800 5.300 1.800 59. & Util.100 4.300 11.500 14. Manufacturing Wholesale Trade Retail Trade Trans.100 6.600 15.700 800 2.400 16.400 15.800 4.100 Dec '10 111.500 15.300 16.000 9.300 6.200 13.300 5.700 134.000 1.100 1.800 10.600 14.300 5. All estimates are subject to revision.700 1.500 6.000 4.900 60.100 10.100 4.100 93.200 15.400 2.100 6.200 3.300 15.100 13.800 2.800 2.400 8.400 4.400 4.600 6.500 TEXAS WORKFORCE COMMISSION Estimates for the current month are preliminary.

800 7.500 Dec '10 106.700 10.100 Dec '10 69.000 Dec '11* 51.800 107. Ware.800 4.700 4.100 3.100 3.500 2.100 1.400 6.100 3.600 5. Manufacturing Wholesale Trade Retail Trade Trans.200 2.600 5.500 10.800 13.600 3.400 Dec '10 42.800 2. & Health Services Leisure & Hospitality Other Services Government Texas Metropolitan Statistical Areas Nonagricultural Wage and Salary Employment (Not Seasonally Adjusted) JANUARY 2012 2012 Texas Metro Market Overview Midland .100 6. & Constr.200 5.200 1.200 500 2. Dec '11* 71.200 2.200 2. Information Financial Activities Prof.900 2.400 500 2.600 7.200 6.300 9.100 2.500 1.900 5.100 2.300 8.900 7.600 7.500 4.700 1.800 5.400 4.300 5.400 500 2.700 2.500 2.800 5. The number of nonagricultural jobs in each MSA is without reference to place of residence of workers.100 WICHITA FALLS Nov '11 57.300 4.200 5. & Util.100 9.100 12.100 Dec '10 45.400 3.700 4.700 2.400 5.13 - Dec '11* 57.300 6.100 4.400 5.800 7.700 1.500 6.900 3.700 20.500 3.400 8.800 9.100 14.900 13.800 9.700 3.900 6.100 3.200 5.500 4.300 20.100 Dec '11* 46.600 2.600 WACO Dec '11* Nov '11 107.100 6.400 4.500 12.100 3.400 7.600 4.000 3.900 6.S.500 43.100 14.900 1. Information Financial Activities Prof.200 10. Ware.400 4.700 12. Logging.100 6.400 6.600 3.100 12.800 2.200 SHERMAN DENISON Dec '11* Nov '11 43.400 6.300 5.300 9. U.100 2.700 2.500 1.100 2.700 2.100 2.500 7..800 9.300 1.800 Dec '10 57.300 21.300 21.700 3.800 8.900 8.200 5.800 10.800 9.700 1.700 Dec '10 58.400 2.100 2.600 3.700 7.300 1. Manufacturing Wholesale Trade Retail Trade Trans.500 2.100 1.400 500 2.700 4.400 2.500 7.700 1.600 6.800 9.500 7.900 2.100 3.000 TEXARKANA Nov '11 57.700 3.600 6.700 1.600 5.100 1.000 1.600 12.900 1.100 2.200 6.100 500 2.200 7.600 3.500 6.700 2.400 20.800 5.700 16.900 2.200 1.100 5.900 4.800 18. Information Financial Activities Prof. & Business Services Educ.100 10.400 TEXAS WORKFORCE COMMISSION Estimates for the current month are preliminary.700 7.600 2.700 3..100 1.000 8.600 1.800 1.800 Dec '10 94.900 2.200 1.700 2.700 4.600 1. & Health Services Leisure & Hospitality Other Services Government MIDLAND Nov '11 70.800 4.400 7. Logging.200 3.000 5.300 4.400 4.000 2. Ware.500 8.500 7.700 3.700 4.800 1.100 400 400 2. Logging.500 18.000 2.100 Dec '11* 57.400 7.200 3.200 600 2.200 2.700 1.600 2.000 500 2.T E X A S L A B O R M A R K E T R E V I E W .500 1.000 3.100 12.000 3.400 6.000 2. & Constr.300 2.500 14.800 16.000 4.500 Dec '11* 96. All estimates are subject to revision.800 21.800 8.300 3.500 7.600 9.800 3.700 6.000 1.100 3.300 3..800 1. & Constr.600 4.600 4.500 7.200 5.000 1.600 3.100 9.100 TYLER Nov '11 96.300 5.700 5.100 3.100 2.700 VICTORIA Nov '11 51.000 1.600 6. Manufacturing Wholesale Trade Retail Trade Trans.200 10.700 9.800 4.800 Dec '11* 63.700 4.200 9.800 Dec '10 62.200 500 2.100 9.700 7.700 2.400 6.700 3.200 3.800 3.800 SAN ANGELO Nov '11 46. Department of Labor are disseminated in cooperation with the TWC.400 7.700 1.800 13.400 3.100 3.400 4.600 1.600 1. & Util.200 3.500 5.900 7.600 INDUSTRY TOTAL Mining.900 6.100 1.700 3..600 10. & Health Services Leisure & Hospitality Other Services Government INDUSTRY TOTAL Mining.900 10.100 3.900 18.200 14.000 3.900 5.000 4.000 1.600 1.400 6.000 INDUSTRY TOTAL Mining.800 16.900 2. & Business Services Educ.300 3.700 2.800 7. & Business Services Educ.600 8.100 3.500 8.400 6..300 8.000 8.000 1.500 9.400 7.700 7.400 2.600 3.500 3.700 6.600 8.700 1.100 1.600 7.300 7. & Util.200 14.400 4.200 2.500 6.600 1.000 600 2.300 3.200 6.. Estimates produced by the Bureau of Labor Statistics.100 1.900 9.600 8.800 9.300 4.100 1.200 3.600 1.300 Dec '10 49.900 1.500 12.200 1.600 1.500 12.700 2.100 500 2.000 3.200 ODESSA Nov '11 63.100 6.500 7.300 12.700 14.500 3.

762.548.000 20.000 44.800 89.800 850.149.000 138.500 138.800 105.300 Dec '11* Nov '11 758.800 74.100 243.400 28.400 344.400 142.200 1.400 1.500 277.909.700 31.600 69.000 855.600 74.500 251.400 381.200 100.400 Dec '10 234.500 64.900 231.200 126.400 271.800 2.760.900 65.900 716.000 2.900 53.000 136. 697.300 758.000 230.089.000 38.785.500 121.100 382.500 102.400 273. and Utilities Information Financial Activities Professional and Business Services Education and Health Services Leisure and Hospitality Other Services Government JANUARY 2012 684.100 39.700 136.700 408.800 63.400 53.900 34.800 92.200 159.700 51.500 159.500 92.400 107.400 69.400 31.000 170.600 727.300 91.300 92.500 95.300 86.500 605.300 32. The number of nonagricultural jobs in Texas is without reference to place of residence of workers.900 141.100 158.100 449.S.300 385.600 2.000 255.500 254.300 43. Warehousing.100 97.800 123.200 87.500 513.509.200 SAN ANTONIO NEW BRAUNFELS 501.600 294.900 131.200 853.500 137.300 88.820.700 77.400 1.600 593. and Utilities Information Financial Activities Professional and Business Services Education and Health Services Leisure and Hospitality Other Services Government 2.500 28.300 191.500 265.500 726.700 Dec '10 Dec '11* Nov '11 Dec '10 281.000 268.300 188.900 599.000 64.500 314.500 122.800 34.500 121.200 367.200 17. & Construction Manufacturing SERVICE PROVIDING Private Service Providing Wholesale Trade Retail Trade Transportation.800 847.400 39.900 84.900 108.000 45.900 108.200 101.000 1.900 2.700 101.500 599.500 61.200 162.900 104.100 31.400 455.800 280.600 137.700 61.600 279.200 188.100 276.100 2.400 101. All estimates are subject to revision.800 230.091.400 164. **Metropolitan Division (MD).600 19.400 2.147.000 408.085.100 94.706.200 65.300 2.400 132.600 2.700 39.400 385.900 53.500 101. Warehousing.700 209.300 44.900 324.400 318.000 159.200 98.200 13.400 100.300 135.000 Nov '11 HOUSTON SUGAR LAND BAYTOWN Dec '11* TEXAS WORKFORCE COMMISSION *Estimates for the current month are preliminary.200 241.200 63.100 2.500 1.700 2.500 251.900 169.000 124. & Construction Manufacturing SERVICE PROVIDING Private Service Providing Wholesale Trade Retail Trade Transportation. Logging.600 868.300 49.300 74.900 46.500 20. The Dallas-Fort Worth-Arlington MSA is comprised of the Dallas-Plano-Irving MD and the Fort Worth-Arlington MD.200 159.400 402.100 258.200 525.300 98.500 161.500 19.500 499.820.100 242.600 89.300 12.600 354.300 163.100 108.600 Nov '11 FORT WORTH ARLINGTON MD** 199.200 13.300 94.300 126.000 29.M A R K E T .541.700 101.200 313.000 770.300 82.900 361.000 107.500 278.400 366.800 Dec '10 Dec '11* 410.543.400 1.100 1.300 2.600 101.800 1.400 5 90.500 141.600 312.100 218.100 119.600 101.14 - 197.000 475.100 Dec '10 757.500 28.500 TOTAL NONFARM R E V I E W Largest Four MSAs Nonagricultural Wage and Salary Employment (Not Seasonally Adjusted) L A B O R TOTAL NONFARM T E X A S 2012 Texas Metro Market Overview Midland .900 69.100 20.000 38.100 137.643.099.500 2.900 363.700 385. Department of Labor are disseminated in cooperation with the TWC.400 Dec '10 245.144.700 GOODS PRODUCING Mining.100 85.900 210.800 257.643.700 86.900 139.300 87.546.700 34.900 Nov '11 DALLAS PLANO IRVING MD** Dec '11* AUSTIN ROUND ROCK SAN MARCOS 292.200 2.200 699.700 77.900 143.600 Nov '11 DALLAS FORT WORTH ARLINGTON Dec '11* 2.501.800 2.958.500 164.000 100.100 529.800 38.100 55.500 87.100 63.900 248.200 106.100 785.400 211.400 88.500 47.300 96.500 38.700 2.300 19.100 2.300 55.700 435.200 180. Estimates produced by the Bureau of Labor Statistics.300 606.054.300 358.400 86.500 46.400 17.000 398.200 49.900 GOODS PRODUCING Mining.900 172.955.200 1.600 31.200 108.800 162.200 17.900 12.600 13.100 269.300 96.100 869.400 40.000 399.100 40.500 89. Logging.100 86.500 786.300 91. U.300 29.500 97.600 157.600 32.100 45.142.567.600 324.600 268.400 95.700 31.100 13.600 42.400 78.000 107.400 127.300 47.

677 6.237 1.541 11.316 23.619 13.004 668 5.061 17.475 6.106.623 6.7 23.118 5.5 13.521 2.373 2.604 25.678 9.433 6.9 195.639 7.078 19.113 47.666 11.319 5.376 15.214 1.803 10.7 Waco 58.4 10.683 5.490 12.519 25.806 684 5.484 27.5 15.602 5.663 2.695 4.246 45.768 1.051 6.064 990 7.164 6.15 - CLF 56.211 8.304 10.5 124.0 Rockwall 19.9 Texarkana 17.556 4.978 1.279 1.930 6.9 562.935 2.242 77.969 34.805 6.249 13.5 Richardson 55.391 88.419 22.070 2.016 6.553 2.226 11.966 12.9 Schertz 16.2 1.401 12.8 31.029 437.588 342.166 6.913 3.3 17.846 18.252 6.545 6.593 8.0 17.1 98.645 907 6.4 29.649 8.031 5.972 18.504 4.365 7.908 7.4 317.727 6.818 12.3 Weslaco 15.187 628 5.744 24.991 72.462 15.7 44.8 Rosenberg 16.2 22.444 30.601 7.082 1.994 4.328 3.297 12.0 San Juan 14.594 40.096 1.820 17.468 1.984 53.349 3.284 3.693 1.9 16.8 19.025 1.3 65.265 8.867 7.169 1.542 920 5.695 18.016 14.814 41.8 60.928 7.866 12. Department of Labor.531 55.153 813 6.3 65.565 3.5 80.238 1.193 5.0 34.4 Pflugerville 23.576 5.5 40.6 22.376 10.1 Pharr 27.479 26.513 65.542 2.801 7.095 6.283 7.6 11.914 62.406 29.298 7.236 18.089 11.903 22.555 1.2 14.376 6.465 6.611 1.020 43.228 2.576 5.707 9.8 8.815 10.5 Paris 11.274 117.971 5.4 17.248 19.8 Employment and Unemployment Estimates for Texas Cities L A B O R TEXAS WORKFORCE COMMISSION Estimates reflect actual (not seasonally adjusted) data.6 253.776 2.036 33.651 37.707 7.8 Rowlett 29.8 25.715 5.151 21.711 2.319 3.8 Sugar Land 43.586 5.428 1.593 41.702 987 7.175 10.399 2.240 5. City Abilene Allen Amarillo Arlington Austin Baytown Beaumont Bedford Big Spring Brownsville Bryan Burleson Carrollton Cedar Hill Cedar Park Cleburne College Station Conroe Coppell Copperas Cove Corpus Christi Corsicana Dallas Deer Park Del Rio Denton DeSoto Duncanville Eagle Pass Edinburg El Paso Euless Farmers Branch Flower Mound Fort Worth Friendswood Frisco Galveston T E X A S 2012 Texas Metro Market Overview Midland .324 7.946 2.8 13.789 29.858 11.700 58.7 Port Arthur 25.719 27.425 1.6 Wylie 20.161 7.967 16.245 44.8 17.4 12.210 1.568 27.8 27.424 104.500 62.460 5.1 43.749 52.811 13.441 3. Estimates of the TWC are in cooperation with the Bureau of Labor Statistics.771 34.248 10.4 13.133 24.3 42.1 20.299 140.976 1.699 18.275 7.385 6.967 47.162 7.9 55.173 12.1 Temple 31.750 24.433 5.2 Texas City 20.739 31.085 7.833 985 7. Unemp Rate 52.511 2. Unemp Rate 110.874 1.6 36.827 1.284 8.917 9.6 29.124 58.889 3.9 16.048 6.154 276.3 City Garland Georgetown Grand Prairie Grapevine Greenville Haltom City Harker Heights City Harlingen Houston Huntsville Hurst Irving Keller Killeen Kingsville Kyle City Lake Jackson Lancaster La Porte Laredo League City Leander City Lewisville Little Elm Longview Lubbock Lufkin McAllen McKinney Mansfield Mesquite Midland Mission Missouri City Nacogdoches New Braunfels North Richland Hills Odessa December 2011 JANUARY 2012 CLF Emp..283 9.806 13.4 San Antonio 649.104 800 5.856 1.672 12.792 5. Unemp Rate City CLF Emp.581 2.812 2.357 1.074 1.380 16.3 Pasadena 68.639 1.0 41.618 828 6.390 103.3 94.S.977 5.039 1.198 3.584 1.569 15.580 9.2 Southlake 12.529 9.184 5.124 3.276 15.206 5.446 11.305 6.854 3.773 1.4 Round Rock 54.140 5.014 6.0 Tyler 50.1 63.456 920 8.569 1.263 6.3 29.605 3.845 51.710 14.2 13.207 56.446 42.127 6.9 28.341 607.604 11.604 34.2 17.552 47.145 6.680 6.7 61.631 13.904 13.941 64.4 San Angelo 46.338 2.947 2.881 19.9 Weatherford 12.031 26.424 1.753 1.628 1.933 6.478 5.111 20.7 412.9 San Marcos 28.689 158.3 51.634 31.643 27.125 1.555 16.7 24.8 69.911 654 6.091 73.2 27.874 8.389 24.8 51.650 209. All estimates are subject to revision.754 24.877 1.726 675 5.8 University Park 10.289 2.686 2.318 8.1 29.5 Victoria 33.3 61.9 Plano 149.8 San Benito 9.207 4.8 12.1 The Colony 24.819 4.029 15.391 6.622 13.078 609.565 68.084 4.332 757 6.6 Sherman 17.359 6.383 1.4 Seguin 12.198 39.9 Waxahachie 13.961 14.150 1.134 15.7 30.719 1.275 8.839 7.128 5.277 53.539 102.908 966 9.339 7.413 9.0 12.172 7.3 13.8 21.4 50.225 6.028.2 Wichita Falls 45.078 42.1 31.231 1.816 5.779 46. U.462 1.469 5.085 5.543 6.9 21.489 684 5.286 10.955 7.733 19.6 19.013 6.2 148.054 36.965 1.0 Socorro 12.597 8.590 5.255 5.255 7.895 21.803 1.8 16.2 38.053 6.553 2.1 68.5 11.584 M A R K E T R E V I E W Emp.7 Pearland 48.566 5.201 877 7.556 7.112 60.9 112.

0% 2.060.900 590.900 10.1 2.400 255.290.0 Note: The number of nonagricultural jobs in Texas is without reference to place of residence of workers. 2011 Dec.107.805.0% 6. Department of Labor are disseminated in cooperation with the TWC.100 0.900 257. Estimates produced by the Bureau of Labor Statistics.0 0.200 597.800 620. 2011* Nov.342.019. Transportation.100 1.600 800 4.843. Total Nonagricultural employment is additive by summing the individual sectors.700 1. '11 to Dec.900 41.444.800 1.200 217.860.800 7.100 100 10.8 0.6 45.400 636.056.000 184.800 837.200 8.0% .2012 Texas Metro Market Overview T E X A S L A B O R M A R K E T Midland JANUARY 2012 R E V I E W TEXAS NONAGRICULTURAL WAGE AND SALARY EMPLOYMENT SEASONALLY ADJUSTED INDUSTRY TITLE Total Nonagricultural Total Nongovernment** Goods Producing Mining and Logging Construction Manufacturing Service Providing Trade.406.600 1.400 1.649.100 0.0% 2.629.200 18.100 812.1 3. **Total Nongovernment number is derived by subtracting the M Government the Total Nonagricultural A Restimate K from E T R E V Iestimate.2 10.300 55.833.7 1.0 0.100 1.500 1. 2010 10.3 0.200 2.300 1.6 3.4 0. U.3 40.062.8 0.800 1.700 1.700 6.0 3.500 835.108.900 638.S.000 365.2 4.200 192.16 - Jan 11 Jan 10 Jan 09 Jan 08 Jan 07 Jan 06 Jan 05 Jan 04 Jan 03 Jan 02 Jan 01 Jan 00 Jan 99 Jan 98 Jan 97 Jan 96 Jan 95 Jan 94 Jan 93 Jan 92 Jan 91 6. '10 to Dec.800 10. and Utilities Information Financial Activities Professional and Business Services Education and Health Services Leisure and Hospitality Other Services Government Nov.6 4.500 2.0% 4.795.583.100 378.600 1.0% 0.1 0.700 8.800 200 1.000 300 2.1 Dec. *Estimates for the current month are preliminary.500 2.300 25. '11 Absolute Percent Change Change 20. '11 Absolute Percent Change Change 204.200 0.200 2.000 3.0 Dec. E W T E X A S L A B O R M A R K E T R E V I E W Texas Nonagricultural Wage and Salary Employment (Not Seasonally Adjusted) Annual Growth Rates TEXAS WORKFORCE COMMISSION .9 4.200 378.800 186.343.000 53.900 590.900 18.500 2.444.1 2.443.0% 4.700 1.200 13.300 2.000 8.200 0.800 1.1 0. All estimates are subject to revision.0 260.1 0.1 2.100 36.

00 .48 17.14 15.2012 Texas Metro Market Overview Midland 2010 Average Hourly Wage ($) by MSA Houston-Sugar Land-Baytown Austin-Round Rock-San Marcos Dallas-Fort Worth-Arlington Midland Texas Beaumont-Port Arthur San Antonio-New Braunfels Odessa College Station-Bryan Amarillo Longview Texarkana.00 Note: Data reflect most recent year surveyed Source: Bureau of Labor Statistics .00 24.25 10.-Texarkana.89 18. Ark.83 17.95 18.72 16.72 17.05 16.35 17.17 - 18. Tex.18 21.80 17.89 22.91 18. Killeen-Temple-Fort Hood Tyler Waco Victoria Sherman-Denison Lubbock Corpus Christi San Angelo El Paso Abilene Wichita Falls Laredo McAllen-Edinburg-Mission Brownsville-Harlingen 19.00 20.74 17.00 20.00 16.10 18.00 12.00 14.30 22.66 16.14 17.38 17.26 22.76 20.88 16.64 17.61 15.50 17.

466 2007 $2. MD=subset of an MSA Source: Texas Comptroller's Office Gross Retail Sales Midland MSA Year Total Sales* Sales per Capita 2000 $1.511 $16.325.351.010 $14.000 21.203 $19.850 $13.906 2009 $2.577.us/ allocation/HistSales.060.914.000 13.000 7.993 State Average 2010: $15.000 Note: Data reflect most recent year surveyed.267 $15.042.446.501 $16.704 2004 $1.373 2006 $2.000 11.229.tx.000 15.563 2001 $1.state.750. See Texas Comptroller site for updated data in previous years: https://ourcpa.18 - .054 2003 $1.421.460 $19.439 $13.276.918.721.415.121.246.jsp Source: Texas Comptroller’s Office .767 $12.cpa.962.110 *Update current year only.189.479 $18.000 19.2012 Texas Metro Market Overview Midland Economy 2010 Gross Retail Sales Per Capita ($) Odessa Midland Dallas-Plano-Irving MD Lubbock Amarillo Longview Houston-Sugar Land-Baytown Texas Tyler Victoria Fort Worth-Arlington MD Austin-Round Rock-San Marcos Waco Abilene San Angelo Beaumont-Port Arthur Laredo San Antonio-New Braunfels Sherman-Denison Killeen-Temple-Fort Hood Corpus Christi Wichita Falls College Station-Bryan El Paso Texarkana McAllen-Edinburg-Mission Brownsville-Harlingen 5.573.756 $18.007 2008 $2.349 2005 $2.000 17.435 2010 $2.000 9.627.838 2002 $1.441.809.

321 487.19 - .470 3.811.271.802 2.388 Deplaned 4.577.138 Midland International Airport Enplaned Source: Midland International Airport .756 4.286 459.829 925.910.331 969.2012 Texas Metro Market Overview Midland Infrastructure Midland Airport Passengers Airport 2007 2008 2009 2010 2011 Enplaned 491.692 3.509 6.303.778.224 Total 977.607.305 5.193 2.181.658.543 466.204 2.010 481.577 Midland International Airport Source: Midland International Airport Midland Airport Cargo Statistics (in pounds) Airport 2007 2008 2009 2010 2011 3.540 880.961 417.674 5.616.312.695 438.194.403 420.596.353 Deplaned 486.316 4.503 3.750 Total 7.448 7.845 442.929.364 838.264.

000.000 925.000 2.000.000.000.364 8.000.540 3.000 900.331 9.000 750.000 800.000 950.000 .000.000 977.829 4.2012 Texas Metro Market Overview Midland Midland Airline Boardings and Cargo Statistics Totals 1.000 880.577 7.000 2007 2008 2009 Passengers Source: Midland International Airport .000.000.000.000.000 850.20 - 2010 Cargo 2011 0 Cargo (in pounds) Passengers 6.000 1.000 969.000 5.000 838.

2012 Texas Metro Market Overview .21 - Midland .

22 - .88 $0.2012 Texas Metro Market Overview Midland Multifamily Midland Apartment Statistics 2011 Midland Average rent per square foot $0.1% 95.352 *As of December 2011 Source: Apartment MarketData Research .445 388.87 Average rent for units built since 2000 Texas Metro Average $0.98 Average occupancy 97.7% Average occupancy for units built since 2000 98.97 $0.8% Total units* 9.425 Total units built since 2000* 1.631.794 1.1% 93.

0% 20.2012 Texas Metro Market Overview Midland Housing Home Price Index (HPI) Midland MSA The HPI for each geographic area is estimated using repeated observations of housing values for individual single-family residential properties on which at least two mortgages were originated and subsequently purchased by either Freddie Mac or Fannie Mae.0% 0.0% 4Q-01 Change from Previous Year 30.0% -10.23 - 4Q-11 USA 4Q-10 Texas 4Q-09 4Q-08 California 4Q-07 4Q-06 4Q-05 4Q-04 4Q-03 -30.0% Florida Source: Federal Housing Finance Agency .0% 5.0% 4Q-02 -20. 40.0% .0% 15.0% Change from Previous Year 20.0% USA Source: Federal Housing Finance Agency National Home Price Index (HPI) The HPI for each geographic area is estimated using repeated observations of housing values for individual single-family residential properties on which at least two mortgages were originated and subsequently purchased by either Freddie Mac or Fannie Mae. 25.0% 10.0% 10.0% 4Q-00 -5.0% Midland Texas 4Q-11 4Q-10 4Q-09 4Q-08 4Q-07 4Q-06 4Q-05 4Q-04 4Q-03 4Q-02 4Q-01 -10.0% 0.

2 $50.0 11.999 - 6.8 11. Source: Real Estate Center at Texas A&M University .000 and more - 0.0 $120.0 0.4 7.4 2.000–179.2 2.1 1.000–39.4 $60.7 $40.1 10.7 2.999 - 8.000–249.8 8.0 1.8 0.999 or less - 5.3 12.5 6.000–299.4 1.000–69.1 0.3 $250.2 1.999 - 5.3 12.6 11.8 2.3 $400.8 $300.999 - 0.6 2.000–49.6 $90.2 1.6 2.0 2.0 2.2012 Texas Metro Market Overview Midland Price Distribution of MLS Homes Sold.3 8.9 1.9 “-” represents unreported data or nonparticipation in Real Estate Center’s survey.4 16.3 2.9 12.5 2.3 1. Midland* (in percent) Price Range 2005 2006 2007 2008 2009 2010 2011 $29.9 11.999 - 10.6 2.000–89.8 1.5 7.8 2.7 0.4 8.999 - 2.3 1.3 11.000–499.0 3.1 8.9 8.9 1.5 1.999 - 3.5 2.2 1.0 0.5 7.000–199.6 9.8 9.8 10.3 2.5 0.000–99.999 - 6.0 $70.999 - 6.4 2.6 8.7 0.8 1.2 $140.4 2.3 13.2 10.7 $100.999 - 3.000–119.3 12.2 8.2 2.6 1.9 3.9 $30.999 - 12.000–79.6 8.24 - .8 9.1 2.999 - 4.5 11.5 $160.5 $200.999 - 6.000–399.1 3.7 $180.999 - 6.7 0.1 10.2 7.2 1.4 10.3 12.8 $80.7 10.999 - 9.6 11.8 9.000–59.000–139.6 $500.1 11.0 2.6 0.3 4. *2011 data current as of February 1.999 - 1.4 0.000–159. 2012.5 14.5 1.3 1.2 7.

25 - .0 14.0 2. However. Property Tax Rates 2011 Taxing Entity Tax Rate per $100 Valuation City of Midland $0.0 8.198 Total* $1.0 0.org/ Source: Midland County Appraisal District .0 Midland Price Distribution of MLS Homes Sold Midland 16.0 2009 2010 2011 Source: Real Estate Center at Texas A&M University 2011 data current as of February 1.2012 Texas Metro Market Overview 18.141 Midland County 0.0 10.0 Percent 12. http://www. there are numerous taxing entities that need to be taken into account for an actual tax rate calculation. 2012.midcad.810 *Only the typical taxing entities are included in the total.0 4.471 Midland ISD 1.0 6.

500 2006 Sales Source: Real Estate Center at Texas A&M University 2007 2008 2009 2010 2011 0 Supply 2011 data current as of February 1.000 2 500 0 1 Months Inventory measures the current absorption rate and how long it would take for current supply to be depleted if no other listings came on the market. Data not available through 2005. Yearly Home Sales and Months Inventory Midland MLS 2.500 $195.26 - .600 $193.000 $182.000 Data not available through 2005 $0 2002 2003 2004 2005 2006 2007 2008 Source: Real Estate Center at Texas A&M University 2009 2010 2011 2011 data current as of February 1.500 $201.000 $210.000 $50.000 $100.000 $200.400 $149. 2012.000 4 Sales 3 1. 2002 2003 2004 2005 Months Inventory 1. 2012.500 6 5 2.2012 Texas Metro Market Overview Midland Average Sales Price Midland MLS $250.200 $150. .

Source: U.000 200 Average Value $120. Significant revisions are likely. May June 2009 July 2010 Aug.000 $160. Census Bureau . Sept.000 394 400 $100. Single-Family Building Permits and Average Value Midland MSA $200.S.000 $40.2012 Texas Metro Market Overview Midland Single-Family Home Sales Volume Midland MLS 250 200 Units 150 100 50 0 Jan. 2011 Source: Real Estate Center at Texas A&M University 600 Nov. 2012. Oct.000 300 $80. Feb. $60. 2012.000 0 2007 2008 2009 Units 2010 2011 $0 Average Value 2011 numbers current as of February 1. Apr.000 $140.000 330 Units Dec. Mar.27 - . 2011 data current as of February 1.000 539 514 483 500 $180.000 100 $20.

00 0.0 Annual Average Rate Source: Federal Home Loan Mortgage Corporation .00 Points Rate Midland 0.28 - Annual Average Points Points Rate 12.0 1.00 0.00 0.00 Mortgage Rates 15-Year Fixed 2.00 6.8 8.5 8.0 10.2 0.4 1.00 1.00 0.00 .5 14.0 4.8 3.00 1.6 7.00 1.0 16.00 0.2012 Texas Metro Market Overview 9.0 4.00 0.00 2.00 1.2 5.0 Annual Average Rate Annual Average Points Source: Federal Home Loan Mortgage Corporation 18.4 6.5 2.00 1.00 1.00 0.6 2.00 Mortgage Rates 30-Year Fixed 3.00 2.

4 55. chain and AAA directories and another reliable industry database.66 $83.4 2.000 in the current quarter are included. appraisers. private SSI surveys. ***Occupancy: nights sold divided by nights available (x 100).29 - . Sources: Office of the Governor—Economic Development and Tourism.44 $79. of San Antonio . those units below $25.14 56.5 percent of the total state revenues and have been excluded from the Source Strategies database.68 $86. Room-nights sold are calculated from estimated rate and actual rooms revenues.3 59. **Estimated with the aid of financial reports.4 78.8 396.000 only result in 1. and Source Strategies Inc.1 *Only properties exceeding $25.2012 Texas Metro Market Overview Midland Hotel Hotel* Occupancy and Rental Rates 2010 Midland MSA Number of Rooms (in thousands) Average Daily Rate** Occupancy Rate (in percent)*** 2011 Texas Midland MSA Texas 2.6 $71.7 387.

http://www.000 0 Class-A+ 440.931 273.midlandtxedc.961 Class-C 131.895 160.708 0 1.772 51.633 104.320 0 Class-B Vacant or Owner-Occupied 59.785 Class-B 570.000 Class-B+ 691.790 8.747 2.200 9.098.788 Class-A 125.96% Sources: Midland Development Corporation.406 Class-B- 280.269 CBD Class-A Class-B+ Class-B Suburban Overall Occupancy 90.390 Class-C/D Vacant or Owner-Occupied 68.747.com .596 146.000 Unclassified Vacant or Owner-Occupied 551.2012 Texas Metro Market Overview Midland Office Midland Office Space 2010 Rentable Area (SF) Available SF 1.30 - .000 2.825 14.

edu/mreports Twitter Red Zone Podcast Daily updates twitter. TX 77843-2115 979.edu/pubs Connect with us facebook.edu/recon REPORT COMPILED BY: Edith Craig Kory Merten Katie Barker Taylor Fitzner Cody Price Administrative Coordinator Market Research Assistant/Design Assistant Market Research Assistant/Design Assistant Market Research Assistant/Design Assistant Market Research Assistant/Design Assistant Real Estate Center 2115 TAMU College Station. resources and data.2031 979. The Center also offers numerous other publications.com/recenter NewsTalk Texas the BLOG Up-to-the-minute news on all Texas MSAs recenter.845. links contained in this report may change or become obsolete. Twice-weekly electronic news recenter.000 titles recenter. The Center advises contacting the original source regarding broken links.edu/tgrande Reports like this on other Texas MSAs recenter.845.tamu.tamu. Tierra Grande Market Reports Our flagship periodical recenter.0460 FAX .tamu.edu/mnews Center researchers’ personal perspectives on current news Midland Area News RECON Use the QR code reader on your smartphone to access the latest news from the Midland MSA.edu/podcast Publications Facebook Nearly 2.snter Real Estate Center Market Reports The Center strives to provide the most accurate and up-to-date data to paint a detailed picture of Texas’ Metropolitan Statistical Areas.tamu.com/TexRec Hottest happenings in Texas real estate recenter.tamu. However.tamu.