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North Texas Economy Coping

By Shelley Kofler

Dallas –
As the country braces for a possible recession, economists say Texas is stronger than most states because of growth in exports and energy related businesses.

Even so, we're feeling the downturn. In North Texas sales of existing homes and new home construction have plummeted. But Economist Fiona Sigalla with the Federal Reserve Bank in Dallas says sellers and buyers here shouldn't panic.

Sigalla says home sales have slowed everywhere. But, on average, Texans are selling their homes in about six months, while nationwide houses remain on the market an average 10 months.

Sigalla says the number of new jobs being added in Texas has slowed, but employment growth here is still the best in the nation.