Odessa Market Report 2012

8/6/2019 Odessa Market Report 2012

1/33


2/33

2012 Texas Metro Market Overview Odessa

- i -

Table of Contents

Introduction ............................................................................................. 1

MSA Map ................................................................................................ 2

Demographics ........................................................................................ 3

Education................................................................................................ 9

Employment.......................................................................................... 10

Economy............................................................................................... 18

Infrastructure ........................................................................................ 19Multifamily............................................................................................. 22

Housing ................................................................................................ 24

Hotel ..................................................................................................... 30

Real Estate Center ............................................................................... 31

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/.

For the latest Odessa news, visit NewsTalk Texas.

Click to Link
http://recenter.tamu.edu/newstalk/main.asp?a=16


3/33

2012 Texas Metro Market Overview

Quick Facts

MSA Land Area (2009 denition) 901.68 square miles

2010 Population Density 152.1 people per square mile

Counties Ector

Area Cities and Towns

Gardendale, Goldsmith, Greenwood, Odessa, Notrees,Penwell, Pleasant Farms

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

Odessa

Microsoft product screen shot reprinted with permission from Microsoft Corp.

- 1 -


4/33


- 2 -

MSAMap

ANDERSON

ANDREWS

ANGELINA

ARANSAS

ARCHER

ARMSTRONG

ATASCOSA

AUSTIN

BAILEY

BANDERA

BASTROP

BAYLOR

BEE

BELL

BEXAR

BLANCO

BORDEN

BOSQUE

BOWIE

BRAZORIA

BRAZOS

BREWSTER

BRISCOE

BROOKS

BROWN

BURLESON

BURNET

CALDWELL

CALHOUN

CALLAHAN

CAMERON

CAMP

CARSON

CASS

CASTRO

CHAMBERS

CHEROKEE

CHILDRESS

CLAY

COCHRAN

COKE

COLEMAN

COLLIN

COLLINGSWORTH

COLORADO

COMAL

COMANCHE

CONCHO

COOKE

CORYELL

COTTLE

CRANE

CROCKETT

CROSBY

CULBERSON

DALLAM

DALLASDAWSON

DEAF SMITH

DELTA

DENTON

DE WITT

DICKENS

DIMMIT

DONLEY

DUVAL

EASTLAND

ECTOR

EDWARDS

ELLIS

ELPASO

ERATH

FALLS

FANNIN

FAYETTE

FISHER

FLOYD

FOARD

FORTBEND

FRANKLIN

FREESTONE

FRIO

GAINES

GALVESTON

GARZA

GILLESPIE

GLASSCOCK

GOLIAD

GONZALES

GRAY

GRAYSON

GREGG

GRIMES

GUADALUPE

HALE

HALL

HAMILTON

HANSFORD

HARDEMAN

HARDIN

HARRIS

HARRISON

HARTLEY

HASKELL

HAYS

HEMPHILL

HENDERSON

HIDALGO

HILL

HOCKLEY

HOOD

HOPKINS

HOUSTON

HOWARD

HUDSPETH

HUNT

HUTCHINSON

IRION

JACK

JACKSON

JASPER

JEFF DAVIS

JEFFERSON

JIM HOGG

JIM

WELLS

JOHNSON

JONES

KARNES

KAUFMAN

KENDALL

KENEDY

KENT

KERR

KIMBLE

KING

KINNEY

KLEBERG

KNOX

LAMAR

LAMB

LAMPASAS

LASALLE

LAVACA

LEE

LEON

LIBERTY

LIMESTONE

LIPSCOMB

LIVE OAK

LLANO

LOVING

LUBBOCK

LYNN

MCCULLOCH

MCLENNAN

MCMULLEN

MADISON

MARION

MARTIN

MASON

MATAGORDAMAVERICK

MEDINA

MENARD

MIDLAND

MILAM

MILLS

MITCHELL

MONTAGUE

MONTGOMERY

MOORE

MORRIS

MOTLEY

NACOGDOCHES

NAVARRO

NEWTON

NOLAN

NUECES

OCHILTREE

OLDHAM

ORANGE

PALO PINTO

PANOLA

PARKER

PARMER

PECOSPOLK

POTTER

PRESIDIO

RAINS

RANDALL

REAGAN

REAL

RED RIVER

REEVES

REFUGIO

ROBERTS

ROBERTSON

ROCKWALL

RUNNELS

RUSK

SABINE

SAN

AUGUSTINE

SAN

JACINTO

SAN PATRICIO

SAN SABA

SCHLEICHER

SCURRY

SHACKLEFORD

SHELBY

SHERMAN

SMITH

SOMERVELL

STARR

STEPHENS

STERLING

STONEWALL

SUTTON

SWISHER

TARRANT

TAYLOR

TERRELL

TERRY THROCKMORTONTITUS

TOM GREEN

TRAVIS

TRINITY

TYLER

UPSHUR

UPTON

UVALDE

VALVERDE

VAN ZANDT

VICTORIA

WALKER

WALLER

WARD

WASHINGTON

WEBB

WHARTON

WHEELER

WICHITA

WILBARGER

WILLACY

WILLIAMSON

WILSON

WINKLER

WISE

WOOD

YOAKUM YOUNG

ZAPATA

ZAVALA

24

25

23

22

2120

19

18

17 16

15

14

13

12

11

10

9

8

7

6

5

43

2

1

Metropolitan Statistical Areas (MSAs)

1. Abilene2. Amarillo

3. Austin-Round Rock-San Marcos

4. Beaumont-Port Arthur

5. Brownsville-Harlingen

6. College Station-Bryan7. Corpus Christi

8. Dallas-Fort Worth-Arlington

9. El Paso

10. Houston-Sugar Land-Baytown

11. Killeen-Temple-Fort Hood

12. Laredo13. Longview

14. Lubbock

15. McAllen-Edinburg-Mission

16. Midland17. Odessa

18. San Angelo

19. San Antonio-New Braunfels

20. Sherman-Denison

21. Texarkana

22. Tyler23. Victoria

24. Waco

25. Wichita Falls

Prepared by the Labor Market and Career Information Department, TWC

Edited by Real Estate Center at Texas A&M University


5/33


- 3 -

Demographics

Population

Select Area Cities

City 2000 2010Growth 20002010

(in percent)

Odessa 90,943 99,940 9.9

Source: U.S. Census Bureau

Distribution by Race and Hispanic or Latino Origin

(in percent)

Odessa MSA TexasWhite 76.3 70.4

Black or African American 4.5 11.8

Asian 0.8 3.8

American Indian and Alaska Native 1.0 0.7

Other 14.9 10.5

Two or more races 2.5 2.7

Hispanic or Latino (of any race) 52.7 37.6

Source: U.S. Census Bureau 2010

Odessa MSA Population

Year Population*PercentChange

1999 122,450 -

2000 121,123 -1.1

2001 120,866 -0.2

2002 122,361 1.2

2003 122,948 0.5

2004 124,293 1.1

2005 125,339 0.8

2006 127,462 1.7

2007 129,570 1.7

2008 131,941 1.8

2009 134,625 2.0

2010 137,130 1.9

*July 1 population estimates, except 2000 and2010


Households by Type

2010

Odessa MSA Texas

Average household size 2.77 2.75

Households with individuals under 18 years 41.1% 38.9%

Households with individuals 65 years and over 21.3% 21.2%



6/33


- 4 -

0% 10% 20% 30% 40% 50% 60% 70%

AbileneWichita Falls

Beaumont-Port ArthurLubbock

San AngeloTexarkanaLongview

MidlandWacoTyler

OdessaVictoria

AmarilloCorpus Christi

College Station-BryanKilleen-Temple-Fort Hood

TexasHouston-Sugar Land-Baytown

San Antonio-New BraunfelsEl Paso

Dallas-Fort Worth-ArlingtonBrownsville-Harlingen

Sherman-DenisonAustin-Round Rock-San Marcos

McAllen-Edinburg-MissionLaredo

Texas Metropolitan Statistical AreaPopulation Growth Forecast, 20102030

Source: Texas Water Development Board (April 2011 projection)

Odessa MSA Projected Population

YearTexas State Data Center

(Scenario 0.5)Texas Water

Development Board

2000 121,123 121,123

2005 126,645 -

2010 132,775 132,759

2015 138,750 -

2020 143,926 144,073

2025 148,857 -

2030 153,884 154,160

2035 158,776 -

2040 163,093 163,141

Sources: Texas State Data Center (February 2009 projection) and Texas

Water Development Board (April 2011 projection)


7/33


- 5 -

Texas Metropolitan Area Population Change

Metropolitan Area 2000 2010PercentChange

Austin-Round Rock-San Marcos 1,249,763 1,716,289 37.3

McAllen-Edinburg-Mission 569,463 774,769 36.1Laredo 193,117 250,304 29.6

Houston-Sugar Land-Baytown 4,715,407 5,946,800 26.1

San Antonio-New Braunfels 1,711,703 2,142,508 25.2

College Station-Bryan 184,885 228,660 23.7

Dallas-Fort Worth-Arlington 5,161,544 6,371,773 23.4

Killeen-Temple-Fort Hood 330,714 405,300 22.6

Brownsville-Harlingen 335,227 406,220 21.2

Tyler 174,706 209,714 20.0

Midland 116,009 136,872 18.0

El Paso 679,622 800,647 17.8

Texas 20,851,820 24,304,290 16.6

Lubbock 249,700 284,890 14.1

Odessa 121,123 137,130 13.2

Longview 194,042 214,369 10.5

Amarillo 226,522 249,881 10.3

Waco 213,517 234,906 10.0

Sherman-Denison 110,595 120,877 9.3

Corpus Christi 403,280 428,185 6.2

San Angelo 105,781 111,823 5.7

Texarkana 129,749 136,087 4.9

Victoria 111,663 115,384 3.3

Abilene 160,245 165,252 3.1

Beaumont-Port Arthur 385,090 388,745 0.9

Wichita Falls 151,524 151,306 -0.1



8/33


- 6 -

2010 Geographic Mobility

Odessa MSA

Percentage Moved From:

TotalPopulation SameCounty

Different

County inTexas DifferentState Abroad

1 year and over 134,841 11.8 3.4 1.8 0.6

1 to 4 years 9,587 13.0 5.0 0.0 0.7

5 to 17 years 28,040 16.5 1.3 1.2 1.2

18 to 24 years 15,421 18.7 7.0 3.3 0.7

25 to 34 years 19,493 13.6 4.3 4.0 0.4

35 to 44 years 15,997 14.6 7.2 0.4 0.8

45 to 54 years 18,613 6.1 2.1 3.5 0.0

55 to 64 years 14,009 2.2 0.5 0.0 0.5

65 to 74 years 7,123 1.6 1.8 0.0 0.0

75 years and over 6,558 8.4 0.7 1.2 0.0

Source: American Community Survey 2010


9/33


- 7 -

2010 Texas Metropolitan Area Geographic Mobility

Metropolitan AreaTotal

Population*PercentageMigrated**

College Station-Bryan 226,662 14.7

San Angelo 110,919 14.2Killeen-Temple-Fort Hood 400,377 13.3

Amarillo 248,476 10.0

Wichita Falls 151,024 9.8

Austin-Round Rock-San Marcos 1,703,922 9.7

Lubbock 284,989 9.4

Longview 211,925 9.0

Abilene 163,057 8.9

Corpus Christi 421,953 7.3

Texas 24,899,075 6.9

Tyler 207,381 6.9

Beaumont-Port Arthur 384,923 6.8

Dallas-Fort Worth-Arlington 6,314,454 6.5

San Antonio-New Braunfels 2,129,546 6.4

Midland 134,722 6.2

Texarkana, Tex.-Texarkana, Ark. 134,686 6.1

El Paso 794,075 6.0

Victoria 113,088 5.8

Odessa 134,841 5.8

Houston-Sugar Land-Baytown 5,887,484 5.6

Waco 233,411 5.5

Sherman-Denison 119,877 5.1

Laredo 247,153 3.6

McAllen-Edinburg-Mission 765,385 3.3

Brownsville-Harlingen 401,527 2.5

*Population includes one year and over

**Percentage migrated includes those moving from a different countywithin the same state, from a different state and from abroad



10/33


- 8 -

Inbound More than 55% of total shipments moving into the state (subtotal on bottom).Outbound More than 55% of total shipments moving outof the state (subtotal on top).

Balanced Inbound andoutbound individually represent 55% or less of total shipments.

STATE

Outbound

Inbound

MD18632552

DC265591

CT1216946

NJ19871435

NS7339

VT146140

RI277419

MA17941365

DE334252

NH267267

ALASKA

105

169

YUKONTERRITORY

0

0

WA

2604

2752

BC

285

182

ME

333

355

VT

RI

NH

MACT

NY

3702

2679

NJ

2653

2190PA

MD

DE

DC

2575

3975NC

VA

3416

4295

WV

281

229

MI

1720

1644

OH

2876

1890

IN

1809

1221

1036

1030KY

SC

1893

1758GA

3702

3386

1485

2016TN

FL

5269

5636

MO

1511

1149

IL

3367

2442

AR

572

494

LA

1165

920

MS

552

510TX

5663

7861

OK

966

1008

KS

1207

975

CO

2082

2403

NM

632

851

AZ

2206

2056

UT

580

466

NV

755

703

CA

6758

7803

MT

217

204

ID

454

399WY

254

213

OR

663786

AB

304

231

MB

67

37

SK

31

19

ON

878

602

NL

15

17

QC

248

182

NB

14

14

ND

164

210

SD

215

183

MN

1230

880

IA

684

629

NE

522

401

WI

971

710

AL

1109

1247

HAWAII

151

112

NS

Interstate and Cross-Border

2011 Migration Patterns traffic flow by state/provinceBased on 80,289 Interstate Household Goods Moves from January 1, 2011 through December 31, 2011

CALIFORNIA

Year Inbound Outbound

2011 7,803 6,758

2010 7,160 6,529

2009 6,526 6,188

2008 7,705 6,834

2007 8,530 8,064

2006 8,485 9,407

2005 8,599 10,287

2004 8,542 9,762

2003 7,922 8,959

2002 8,288 8,606

FLORIDA


2011 5,636 5,269

2010 5,083 5,360

2009 4,847 5,419

2008 5,277 6,367

2007 5,842 7,033

2006 6,716 7,994

2005 8,579 8,256

2004 9,069 7,180

2003 8,081 6,036

2002 7,176 5,859

TEXAS


2011 7,861 5,663

2010 7,248 5,322

2009 6,833 4,773

2008 8,629 6,442

2007 8,831 6,665

2006 9,714 6,812

2005 9,525 7,210

2004 8,644 7,442

2003 8,075 6,920

2002 7,723 6,778


11/33


- 9 -

Education

Educational Attainment, Persons Age 25 and Older

(in percent)

Level of Education Odessa MSA Texas

High school graduate or higher 72.7 80.7

Bachelors degree or higher 13.2 25.9


Local College and University Enrollment, Fall Semester

School 2007 2008 2009 2010 2011

Odessa College 4,580 4,687 5,132 5,211 5,112

University of Texas of the Permian Basin 3,559 3,496 3,546 4,063 3,831

Source: Texas Higher Education Coordinating Board


12/33


- 10 -

Employment

Top Ten Employers

Odessa Area

Employer Category Employees

Ector County ISD Education 3,317

Medical Center Hospital County Hospital 1,598

Saulsbury Companies Electric & Construction 1,350

Halliburton Services Oil & Gas 997

Odessa Regional Medical Center Medical 900

Walmart Retail 895

City of Odessa Government 833

Ector County Government 659

Nurses Unlimited Inc. Medical 584

Weatherford CPS Oil & Gas 510

Source: Odessa Development Corporation, September 2011

Top Ten Private Employers

Odessa Area

Employer Category Employees

Saulsbury Companies Electric & Construction 1,350Halliburton Services Oil & Gas 997

Odessa Regional Medical Center Health Care 900

Walmart Retail 895

Nurses Unlimited Inc. Medical 584

Weatherford CPS Oil & Gas 510

Investment Corporation of America Financial 467

Bobby Cox Companies Inc. Retail/Restaurants 389

Holloman Construction Oil Field Construction 350

Family Dollar Distribution 330

Source: Odessa Development Corporation, September 2011


13/33


- 11 -

Odessa MSA(Ector)

Employment by Industry Industry Size ClassSize Employees Number Employment % Total

Dec-11 Nov-11 Dec-10 Actual % Actual % Class per firm of Firms in Size Class Employment

Total Nonfarm 63,600 63,500 62,300 100 0.2% 1,300 2.1% 9 1000+ 4 8,373 12.9%

Mining, Logging, and Construction 12,700 12,800 12,300 -100 -0.8% 400 3.3% 8 500-999 8 5,878 9.1%

Manufacturing 4,400 4,400 4,300 0 0.0% 100 2.3% 7 250-499 16 4,743 7.3%

Trade, Transportation, and Utilities 13,100 13,000 13,300 100 0.8% -200 -1.5% 6 100-249 74 10,499 16.2%

Information 500 500 600 0 0.0% -100 -16.7% 5 50-99 145 10,408 16.0%

Financial Activities 2,700 2,700 2,600 0 0.0% 100 3.9% 4 20-49 387 11,850 18.3%Professional and Business Services 4,400 4,400 4,200 0 0.0% 200 4.8% 3 10-19 479 6,517 10.0%

Education and Health Services 6,100 6,100 5,900 0 0.0% 200 3.4% 2 5-9 610 4,122 6.4%

Leisure and Hospitality 6,300 6,300 6,000 0 0.0% 300 5.0% 1 1-4 1,119 2,489 3.8%

Other Services 3,200 3,200 3,100 0 0.0% 100 3.2% 0 0 169 0 0.0%

Government 10,200 10,100 10,000 100 1.0% 200 2.0% Total 3,011 64,879 100.0%

Unemployment Information (all estimates in thousands)

C.L.F. Emp. Unemp. Rate C.L.F. Emp. Unemp. Rate C.L.F. Emp. Unemp. Rate

Dec-11 74.5 70.8 3.7 5.0 12,347.3 11,454.7 892.6 7.2 153,373.0 140,681.0 12,692.0 8.3

Nov-11 74.2 70.3 3.9 5.3 12,344.3 11,423.6 920.7 7.5 153,683.0 141,070.0 12,613.0 8.2

Dec-10 73.8 68.8 5.0 6.7 12,191.5 11,215.6 975.9 8.0 153,156.0 139,159.0 13,997.0 9.1

Annual Growth Rate for Total Nonagricultural Employment

Odessa MSA Texas (Actual) United States (Actual)

Historical Unemployment Rates

Available at http://www.tracer2.com

December 2011

June 2011

Monthly Change Annual Change

20%

7%

21%

1%4%7%

9%

10%

5%

16%

Industry Composition

$234.9

$71.5

$149.9

$5.9

$38.0

$51.0

$47.4

$27.5

$25.2

$95.3

Wages by Industry (in millions)2nd Quarter 2011

Mining, Logging, and Construction

Manufacturing

Trade, Transportation, and Utilities

Information

Financial Activities

Professional and Business Services

Education and Health Services

Leisure and Hospitality

Other Services

Government

-12.0%

-10.0%

-8.0%

-6.0%

-4.0%

-2.0%

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

Dec-01

Mar-02

Jun-02

Sep-02

Dec-02

Mar-03

Jun-03

Sep-03

Dec-03

Mar-04

Jun-04

Sep-04

Dec-04

Mar-05

Jun-05

Sep-05

Dec-05

Mar-06

Jun-06

Sep-06

Dec-06

Mar-07

Jun-07

Sep-07

Dec-07

Mar-08

Jun-08

Sep-08

Dec-08

Mar-09

Jun-09

Sep-09

Dec-09

Mar-10

Jun-10

Sep-10

Dec-10

Mar-11

Jun-11

Sep-11

Dec-11

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

12.0%

Dec-01

Mar-02

Jun-02

Sep-02

Dec-02

Mar-03

Jun-03

Sep-03

Dec-03

Mar-04

Jun-04

Sep-04

Dec-04

Mar-05

Jun-05

Sep-05

Dec-05

Mar-06

Jun-06

Sep-06

Dec-06

Mar-07

Jun-07

Sep-07

Dec-07

Mar-08

Jun-08

Sep-08

Dec-08

Mar-09

Jun-09

Sep-09

Dec-09

Mar-10

Jun-10

Sep-10

Dec-10

Mar-11

Jun-11

Sep-11

Dec-11

Odessa MSA

Texas

U.S.

Source: Texas Workforce Commission


14/33


15/33


16/33


17/33


18/33


- 16 -

T E X A S L A B O R M A R K E T R E V I E W JA N U A R Y 2 0 1 2

T E X A S W O R K F O R C E C O M M I S S I O N

Note: The number of nonagricultural jobs in Texas is without reference to place of residence of workers. Total Nonagricultural employment is additive by summing the individual sectors.

*Estimates for the current month are preliminary. All estimates are subject to revision. Estimates produced by the Bureau of Labor Statistics, U.S. Department of Labor are disseminated in

cooperation with the TWC.

INDUSTRY .ceDELTIT 2011* Nov. 2011 Dec. 2010 Absolute Percent Absolute Percent

Change Change Change Change

Total 002,946,01larutlucirganoN 10,629,000 10,444,700 20,200 0.2 204,500 2.0

Total Nongovernment** 8,843,900 8,833,800 8,583,900 10,100 0.1 260,000 3.0

Goods Producing

Mining and Logging 257,900 255,900 217,200 2,000 0.8 40,700 18.7

008,095noitcurtsnoC 590,500 597,100 300 0.1 6,300 1.1

004,738gnirutcafunaM 835,200 812,200 2,200 0.3 25,200 3.1

Service Providing

Trade, Transportaon, and Ulies 2,108,000 2,107,800 2,062,200 200 0.0 45,800 2.2

009,481noitamrofnI 186,400 192,800 1,500 0.8 7,900 4.1

Financial 008,836seitivitcA 636,700 620,800 2,100 0.3 18,000 2.9

Professional and Business Services 1,343,700 1,342,100 1,290,600 1,600 0.1 53,100 4.1

Educaon and Health Services 1,443,500 1,444,300 1,406,600 800 0.1 36,900 2.6

Leisure and Hospitality 1,060,200 1,056,100 1,019,000 4,100 0.4 41,200 4.0

Other 007,873secivreS 378,800 365,400 100 0.0 13,300 3.6

003,508,1tnemnrevoG 1,795,200 1,860,800 10,100 0.6 55,500 3.0

TEXAS NONAGRICULTURAL WAGE AND SALARY EMPLOYMENT

SEASONALLY ADJUSTED

Nov. '11 to Dec. '11 Dec. '10 to Dec. '11

T E X A S L A B O R M A R K E T R E V I E W M A R K E T R E V I E W

Texas Nonagricultural Wage and Salary Employment (Not Seasonally Adjusted)

6.0%

4.0%

2.0%

0.0%

2.0%

4.0%

6.0%

Jan

91

Jan

92

Jan

93

Jan

94

Jan

95

Jan

96

Jan

97

Jan

98

Jan

99

Jan

00

Jan

01

Jan

02

Jan

03

Jan

04

Jan

05

Jan

06

Jan

07

Jan

08

Jan

09

Jan

10

Jan

11

Annual Growth Rates

**Total Nongovernment number is derived by subtracting the Government estimate from the Total Nonagricultural estimate.


19/33


- 17 -

15.25

15.61

16.14

16.66

16.72

16.88

17.0517.35

17.38

17.48

17.50

17.64

17.72

17.74

17.80

17.83

18.14

18.89

18.91

18.95

19.1020.30

20.76

21.89

22.18

22.26

10.00 12.00 14.00 16.00 18.00 20.00 22.00 24.00

Brownsville-HarlingenMcAllen-Edinburg-Mission

LaredoWichita Falls

AbileneEl Paso

San AngeloCorpus Christi

LubbockSherman-Denison

VictoriaWacoTyler

Killeen-Temple-Fort HoodTexarkana, Tex.-Texarkana, Ark.

LongviewAmarillo

College Station-BryanOdessa

San Antonio-New BraunfelsBeaumont-Port Arthur

Texas

MidlandDallas-Fort Worth-Arlington

Austin-Round Rock-San MarcosHouston-Sugar Land-Baytown

Note: Data reflect most recent year surveyedSource: Bureau of Labor Statistics

2010 Average Hourly Wage ($)by MSA


20/33


- 18 -

Economy

5,000 7,000 9,000 11,000 13,000 15,000 17,000 19,000 21,000

Brownsville-HarlingenMcAllen-Edinburg-Mission

TexarkanaEl Paso

College Station-BryanWichita Falls

Corpus ChristiKilleen-Temple-Fort Hood

Sherman-DenisonSan Antonio-New Braunfels

Laredo

Beaumont-Port ArthurSan Angelo

AbileneWaco

Austin-Round Rock-San MarcosFort Worth-Arlington MD

VictoriaTyler

TexasHouston-Sugar Land-Baytown

LongviewAmarilloLubbock

Dallas-Plano-Irving MDMidlandOdessa

Note: Data reflect most recent year surveyed; MD=subset of an MSASource: Texas Comptroller's Office

2010 Gross Retail Sales Per Capita ($)

Gross Retail Sales

Odessa MSA

Year Total Sales* Sales per Capita

2000 $1,425,344,239 $11,768

2001 $1,576,728,511 $13,045

2002 $1,409,041,592 $11,515

2003 $1,505,995,707 $12,249

2004 $1,616,991,153 $13,010

2005 $1,867,413,897 $14,899

2006 $2,280,573,060 $17,892

2007 $2,344,421,861 $18,094

2008 $2,573,386,035 $19,504

2009 $2,039,387,322 $15,149

2010 $2,348,923,573 $17,129

State Average 2010: $15,110

*Update current year only. See Texas Comptroller site forupdated data in previous years: https://ourcpa.cpa.state.

tx.us/allocation/HistSales.jsp

Source: Texas Comptrollers Ofce


21/33


- 19 -

Infrastructure

Midland Airport Passengers

Airport 2007 2008 2009 2010 2011

Midland International Airport

Enplaned 491,321 487,403 420,845 442,543 466,353

Deplaned 486,010 481,961 417,695 438,286 459,224

Total 977,331 969,364 838,540 880,829 925,577

Source: Midland International Airport

Midland Airport Cargo Statistics

(in pounds)

Airport 2007 2008 2009 2010 2011

Midland International Airport

Enplaned 3,181,692 3,194,802 2,303,193 2,658,204 2,264,388

Deplaned 4,596,756 4,616,503 3,607,316 4,271,470 3,312,750

Total 7,778,448 7,811,305 5,910,509 6,929,674 5,577,138



22/33


- 20 -

977,331969,364

838,540

880,829

925,577

0

1,000,000

2,000,000

3,000,000

4,000,000

5,000,000

6,000,000

7,000,000

8,000,000

9,000,000

750,000

800,000

850,000

900,000

950,000

1,000,000

2007 2008 2009 2010 2011

Cargo(inpounds)

Passengers

Midland Airline Boardings and Cargo Statistics Totals

Passengers Cargo



23/33


- 21 -


24/33


- 22 -

Multifamily

224

460

0

440

402

0

50

100

150

200

250

300

350

400

450

500

2007 2008 2009 2010 2011

Units


5+ Multifamily Building PermitsOdessa MSA

2011 numbers current as of February 1, 2012.Significant revisions are likely.

OdessaPermian Basin Apartment Statistics 2011

Odessa/Permian Basin

Texas MetroAverage

Average rent per square foot $0.79 $0.88

Average rent for units built since 2000 $0.71 $0.98

Average occupancy 97.4% 93.7%

Average occupancy for units built since 2000 97.7% 95.8%

Total units* 9,365 1,631,425

Total units built since 2000* 1,503 388,352

*As of December 2011

Source: Apartment MarketData Research


25/33


- 23 -

$0

$200

$400

$600

$800

$1,000

$1,200

October 2007 August 2008 September 2009 July 2010 July 2011

CostperMonth

Average Apartment Rental RatesOdessa

Efficiency 1 Bedroom 2 Bedroom

3 Bedroom Average Monthly Rent

Source: Odessa Chamber of Commerce


26/33


- 24 -

Housing

-30.0%

-20.0%

-10.0%

0.0%

10.0%

20.0%

30.0%

40.0%

4Q-01

4Q-02

4Q-03

4Q-04

4Q-05

4Q-06

4Q-07

4Q-08

4Q-09

4Q-10

4Q-11

ChangefromPreviousYear

National Home Price Index (HPI)

California Florida Texas USA

The HPI for each geographic area is estimated using repeated observations of housing values for individual single-family residentialproperties on which at least two mortgages were originated and subsequently purchased by either Freddie Mac or Fannie Mae.

Source: Federal Housing Finance Agency

-10.0%

-5.0%

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

4Q-00

4Q-01

4Q-02

4Q-03

4Q-04

4Q-05

4Q-06

4Q-07

4Q-08

4Q-09

4Q-10

4Q-11

ChangefromPreviousYear

Home Price Index (HPI)Odessa MSA

Odessa Texas USA

The HPI for each geographic area is estimated using repeated observations of housing values for individual single-family residentialproperties on which at least two mortgages were originated and subsequently purchased by either Freddie Mac or Fannie Mae.

Source: Federal Housing Finance Agency


27/33


- 25 -

Price Distribution of MLS Homes Sold, Odessa*

(in percent)

Price Range 2005 2006 2007 2008 2009 2010 2011

$29,999 or less - 5.8 3.3 2.4 0.8 2.3 1.3

$30,00039,999 - 5.4 3.2 2.3 2.5 1.8 2.0

$40,00049,999 - 6.0 3.6 3.0 1.8 2.1 2.6

$50,00059,999 - 7.5 5.1 2.9 3.2 3.1 3.0

$60,00069,999 - 10.8 5.3 4.4 4.4 3.7 3.3

$70,00079,999 - 8.6 7.7 6.6 3.1 4.8 4.1

$80,00089,999 - 8.6 8.4 6.7 6.5 7.9 5.9

$90,00099,999 - 6.3 6.4 8.7 7.7 6.5 5.3

$100,000119,999 - 9.3 10.0 11.7 12.9 12.9 9.5

$120,000139,999 - 10.1 12.7 11.5 13.0 13.2 13.3

$140,000159,999 - 4.3 8.4 9.5 12.0 10.0 13.1

$160,000179,999 - 4.3 4.9 6.4 6.5 8.1 9.0

$180,000199,999 - 2.8 4.7 5.8 5.5 5.4 6.1

$200,000249,999 - 5.1 7.4 6.8 10.2 7.8 11.9

$250,000299,999 - 2.3 4.6 5.2 5.4 5.5 5.0

$300,000399,999 - 1.7 2.7 3.9 3.1 3.4 3.1

$400,000499,999 - 0.3 0.7 1.3 0.6 1.0 0.5

$500,000 and more - 0.7 1.0 0.9 0.9 0.6 0.9

- represents unreported data or nonparticipation in Real Estate Centers survey.

*2011 data current as of February 1, 2012.

Source: Real Estate Center at Texas A&M University


28/33


- 26 -

Property Tax Rates 2011

Taxing Entity*Tax Rate per $100

Valuation

City of Odessa $0.523

Ector County ISD 1.132

Ector County 0.356

Total $2.011

*Only the typical taxing entities are included in the total. However,there are numerous taxing entities that need to be taken intoaccount for an actual tax rate calculation. See following link for amore complete list: http://www.ectorcad.org/

Source: Ector County Appraisal District

0.0

2.0

4.0

6.0

8.0

10.0

12.0

14.0

Percent

Price Distribution of MLS Homes SoldOdessa

2009 2010 2011

Source: Real Estate Center at Texas A&M University 2011 data current as of February 1, 2012.


29/33


- 27 -

$108,600

$133,300

$144,200$146,200

$142,100

$152,300

$0

$20,000

$40,000

$60,000

$80,000

$100,000

$120,000

$140,000

$160,000

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

Average Sales PriceOdessa MLS


Data not available through 2005

2011 data current as of February 1, 2012.

0

1

2

3

4

5

6

0

200

400

600

800

1,000

1,200

1,400

1,600

1,800

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

MonthsInventory

Sales

Yearly Home Sales and Months InventoryOdessa MLS

Sales Supply


Months Inventory measures the current

absorption rate and how long i t would take forcurrent supply to be depleted if no other listingscame on the market. Data not available through2005.

2011 data current as of February 1, 2012.


30/33


- 28 -

0

20

40

60

80

100

120

140

160

Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec.

Units

Single-Family Home Sales VolumeOdessa MLS

2009 2010 2011

Source: Real Estate Center at Texas A&M University 2011 data current as of February 1, 2012.

215

254

220

268

336

$0

$50,000

$100,000

$150,000

$200,000

$250,000

0

50

100

150

200

250

300

350

400

2007 2008 2009 2010 2011

AverageValue

Units

Single-Family Building Permits and Average ValueOdessa MSA

Units Average Value

Source: U.S. Census Bureau2011 numbers current as of February 1, 2012.Significant revisions are likely.


31/33


- 29 -

0.0

0.5

1.0

1.5

2.0

2.5

3.0

0.00

2.00

4.00

6.00

8.00

10.00

12.00

14.00

16.00

18.00

Annual Average Rate Annual Average Points

Mortgage Rates30-Year Fixed

Rate

Points

Source: Federal Home Loan Mortgage Corporation

0.0

0.2

0.4

0.6

0.8

1.0

1.2

1.4

1.6

1.8

2.0

0.00

1.00

2.00

3.00

4.00

5.00

6.00

7.00

8.00

9.00

Annual Average Rate Annual Average Points

Mortgage Rates15-Year Fixed

Rate

Points

Source: Federal Home Loan Mortgage Corporation


32/33


- 30 -

Hotel

Hotel* Occupancy and Rental Rates

2010 2011

Odessa MSA Texas Odessa MSA Texas

Number of Rooms (in thousands) 2.2 387.4 2.4 396.6

Average Daily Rate** $77.95 $83.44 $87.18 $86.14

Occupancy Rate (in percent)*** 54.7 55.4 78.2 59.1

*Only properties exceeding $25,000 in the current quarter are included; those units below $25,000 only result in 1.5

percent of the total state revenues and have been excluded from the Source Strategies database.

**Estimated with the aid of nancial reports, appraisers, private SSI surveys, chain and AAA directories and another

reliable industry database.

***Occupancy: nights sold divided by nights available (x 100). Room-nights sold are calculated from estimated rate andactual rooms revenues.

Sources: Ofce of the GovernorEconomic Development and Tourism, and Source Strategies Inc. of San Antonio


33/33

erThe Center strives to provide the most accurate and up-to-date data to paint a detailed picture of Texas Metropolitan StatisticaAreas. However, links contained in this report may change or become obsolete. The Center advises contacting the originalsource regarding broken links.

The Center also offers numerous other publications, resources and data.

Twitter

Publications

Our flagship periodicalrecenter.tamu.edu/tgrande

Daily updatestwitter.com/TexRec

Nearly 2,000 titlesrecenter.tamu.edu/pubs

NewsTalk TexasUp-to-the-minutenews on all Texas MSAsrecenter.tamu.edu/mnews

Reports like this on other Texas MSAsrecenter.tamu.edu/mreports

Hottest happenings in Texas real estaterecenter.tamu.edu/podcast

Tierra Grande Market Reports

Red Zone Podcast

Connect with usfacebook.com/recenter

Facebook

REPORT COMPILED BY:

Edith Craig Administrative CoordinatorKory Merten Market Research Assistant/Design AssistantKatie Barker Market Research Assistant/Design AssistantTaylor Fitzner Market Research Assistant/Design AssistantCody Price Market Research Assistant/Design Assistant

Real Estate Center Market Reports

Twice-weekly electronic newsrecenter.tamu.edu/recon

RECON

the BLOGCenter researcherspersonal perspectiveson current news

Odessa Area News

Use the QR code reader on yoursmartphone to access the latest newsfrom the Odessa MSA.

Documents

Odessa Market Report 2012