Feb 26, 2021
HOUSING MARKET CONTINUES TO BE HOT
If you have been paying attention to the housing market you know it’s bonkers (technical term) right now. This week, the S&P Case-Shiller National Home Price Index reported that house prices rose more than 10% in 2020.

By the numbers: The momentum in housing has kept up into 2021. In January, Building Permits increased more than 10%, New Home Sales over 4%, and Existing Home Sales 0.6%. Pending Homes Sales fell 3%. Housing Starts fell 6%, but that’s after an 8% increase in December. The NAHB Home Builders Index fell, as it did in December. However, it rose in February.
Why is this happening? The housing market and prices are being fueled by a desire of families for more space and low mortgage interest rates. Low inventory, as measured by the National Association of Realtors, is driving prices higher.

The rebound of the housing market is one of the brightest parts of the recovery. It is likely to continue through the spring buying season. There was no such season last year because of COVID-19. There remains pent-up demand from that missed season.

Looking ahead: Mortgage rates are likely to rise in the coming months. Once the pent-up demand is released in the spring, perhaps then the housing market will come back to Earth. But for now, it will remain hot and prices elevated.

—Curtis Dubay, Senior Economist, U.S. Chamber of Commerce
THE TEXAS BUCKET LIST HEADS TO ABILENE
Abilene - Books fuel up our children’s wonders and imagination, and what better way to see that all unfold than at the Storybook Capital of America in Abilene! At the National Center for Children's Illustrated Literature, or NCCL for short, children’s literature is brought to life in all sorts of ways, from statues of The Cat in The Hat, to framed illustrations from our favorite children’s books! “This was the first museum of its kind in the nation to exclusively exhibit children's picture book art,” stated Sidney Levesque, a member from the Abilene Cultural Affairs Council. This tour allows you to see the hard work that went into creating children’s literature and the unique stories behind the meaning of these books. There is no doubt that this museum appreciates children’s authors and illustrators and how their stories create memories that families will cherish.  

So tune in on the weekend of February 26-27 as host Shane McAuliffe watches storybooks come to life right in front of his eyes, and cherish the moments created by the art of storytelling. 

The Storybook Capital of America in Abilene is featured alongside two other stops - La India Packing Company in Laredo and Top Water Grill in San Leon.  

Follow this link to find a station near you!
TEXAS SERVICE SECTOR ACTIVITY GROWS SLIGHTLY
Activity in the Texas service sector increased slightly in February, according to business executives responding to the Texas Service Sector Outlook Survey. The revenue index, a key measure of state service sector conditions, picked up from 0.8 in January to 2.6 in February.
RECENT CHANGES TO THE PPP: EXCLUSIVE INSIGHTS 
As you may know, the Biden administration recently announced major changes to the Payroll Protection Program (PPP) with the goal of reaching more minority-owned and small businesses.
Yesterday, the U.S. Chamber of Commerce hosted a Small Business Update with special insights from White House National Economic Council Deputy Director Bharat Ramamurt,  U.S. Chamber executive vice president and chief policy officer Neil Bradley and CO— Content Director Jeanette Mulvey to share more about these changes and the impact they could have on small business' access to pandemic relief.
Click here to watch the Small Business Update and to hear the special insights.
CONNECT ABILENE VIRTUAL OPEN HOUSE
Public Open House presentation for the 2040 Comprehensive Plan Update. Meeting will include a brief presentation of the progress to date, a walk-thru of the Virtual Open House, and an opportunity to ask questions of city staff and Halff Associates (Consultant).
GETTING DISASTER HELP FROM SBA
WHAT YOU NEED TO KNOW
  • SBA disaster loans are the primary source of federal assistance to help pay for disaster repair or replacement costs not fully covered by insurance or other compensation.
  • SBA offers low-interest disaster loans to businesses of all sizes, most private nonprofit organizations, homeowners and renters.
  • Businesses of all sizes and most private nonprofit organizations may borrow up to $2 million for property damage.
  • Small businesses, small businesses engaged in aquaculture and most private, nonprofit organizations may also borrow to help meet disaster caused working capital needs. Business statutory loan limit is $2 million for combined damage and working capital needs. 
  • Homeowners may borrow up to $200,000 to repair/replace their primary residence.
  • Homeowners and renters may borrow up to $40,000 to repair/replace personal property.

WHAT YOU NEED TO DO
  • Register with FEMA at www.disasterassistance.gov.
  • Homeowners and renters should submit their SBA disaster loan application, even if they are not sure if they will need or want a loan. If SBA cannot approve your application, in most cases we refer you to FEMA’s Other Needs Assistance (ONA) program for possible additional assistance.
WHAT WE'RE READING

Ag Groups Call for PPP Changes

A coalition of 35 agriculture groups is urging Congress to work with the Small Business Administration (SBA) to ensure farm partnerships and limited liability corporations have the same access to the Paycheck Protection Program (PPP) that's granted to sole proprietors.


How to Grow Sales Through Customer Engagement

Customer engagement takes a little time and effort, but regularly responding to followers on social media is a proven way to boost your sales.
You don't want to miss these upcoming events for
your business.

MARCH 2 2021 ECONOMIC OUTLOOK To help you with the economic uncertainty and to help forecast recovery, your Chamber in partnership with America’s Small Business Development Center (SBDC) at Texas Tech, is pleased to bring you an Economic Outlook Seminar on March 2 featuring renowned economist Dr. Mark Dotzour. Please join us at 10:30 AM via zoom. Click here for more information.

MARCH 3 GOVERNOR'S SMALL BUSINESS WEBINAR Join us for the next Governor's Small Business Webinar for an update on the new round of Paycheck Protection Program (PPP) funding and other recovery resources through the U.S. Small Business Administration (SBA). Our panel of experts will provide up-to-date details on the PPP application process, loan forgiveness and assistance available to Texas small businesses impacted by the COVID-19 crisis and/or the recent severe winter storms. The virtual event will also feature a live Q&A with our expert panel, including senior executives from the SBA and Small Business Development Centers. Register here.

MARCH 5 FEDERAL HUBZONE OVERVIEW Are you in a HUBZone? Learn how to find out and what it means if you want to sell your product or service to the U. S. Government! Register here.

MARCH 24 SECURITY AWARENESS Did you know your team is your first line of defense when it comes to your business’s cybersecurity? Learn how to boost your defenses by training your team on Security Awareness. This virtual webinar is free and open to the public. Register here.

MARCH 25 & 26, APRIL 1 & 2 ELEMENTS OF SUCCESSFUL PHILANTHROPY VIRTUAL TRAINING SERIES The Friends of the Texas Historical Commission are leading this series on development training suited for large and small organizations from any discipline with limited development staff. They will highlight the best practices while facilitating dynamic group interactions to help attendees build and strengthen their fundraising "tool-kit" so they can more effectively and sustainably achieve their mission. Click Here to learn more and Click Here to Register Now.