Fourth quarter numbers from Local Market Monitor Report are in for the Midland and Odessa real estate markets and the enthusiasm is being dialed back for both markets.
Notably, they have lowered the investment score for Midland to 2.7, making is speculative. Odessa’s number is now 4.9, making it medium risk. Reports earlier this year had both markets much higher.

The reports note in both Midland and Odessa, economic growth has been good since the recession because of the development of shale oil deposits and the large energy sector currently dominates the economy. Overall, job growth was good in recent months, but in Midland, growth in the energy sector was poor. In Odessa, job growth was good in recent months, and growth in the energy sector was fair.
Total housing permits in October in Midland were down 16 percent from last year. Single family permits were down 16 percent. In Odessa, total housing permits in October were down 23
percent from last year. Single family permits were down 23 percent.
(more…)