Midland Economic Indicators

 

Midland Economic Index April 2017
Economic Indicators*

Base Year

1996

Last Year

2016

This Year

2017

% Change

2016-2017

Taxable Spending - April (per sales tax rebates) $118,721,554 $247,932,058 $270,065,159 8.9%
Taxable Spending - YTD $571,365,370 $1,265,625,842 $1,208,322,603 -4.5%
Dollars Spent on Auto Purchases - April $14,713,410 $43,834,544 $52,769,200 20.4%
Dollars Spent on Auto Purchases - YTD $58,065,717 $164,738,685 $198,512,370 20.5%
Hotel/Motel Tax Receipts - Quarter $4,376,966 $18,277,632 $15,901,154 -13.0%
Hotel/Motel Tax Receipts - YTD $8,911,577 $37,168,451 $32,619,909 -12.2%
Airline Boardings - April 43,716 38,313 40,193 4.9%
Airline Boardings - YTD 170,890 145,434 156,485 7.6%
Value All Building Permits - April $22,345,417 $29,576,333 $21,143,868 -28.5%
Value All Building Permits - YTD $49,898,380 $85,365,789 $104,356,402 22.2%
Permits for New Homes - April 35 61 80 31.1%
Permits for New Homes - YTD  108 167 312 86.8%
Sales of Existing Homes - April 144 156 208 33.3%
Sales of Existing Homes - YTD 464 556 845 52.0%
Average Home Sale Price - April $79,762 $255,930 $285,879 11.7%
Average Home Sale Price - YTD $83,567 $258,671 $274,751 6.2%
Home Sales Dollar Volume - April $18,459,540 $40,820,758 $59,462,779 45.7%
Home Sales Dollar Volume - YTD $62,567,136 $147,300,994 $232,905,430 58.1%
Employment
Wage & Salary Employment - April 52,600 87,400 87,800 0.5%
Wage & Salary Employment - YTD Average 52,475 88,225 87,525 -0.8%
Unemployment Rate - April 4.4 4.5 3.5 -22.2%
Unemployment Rate - YTD Average 4.7 4.3 4.0 -7.6%
INDEX - April (Base = 100 January 1996) 102.4 203.2 195.4 -3.9%

* With the exception of the average home sale price, all economic indicators expressed in dollar form above are adjusted for inflation by restating prior periods in current dollars.


 

Midland, Texas Economic Indicators
    2016 2017 % Change
2016-2017

City of Midland
Sales Tax Rebate

(not adjusted for inflation)

January $4,231,028 $4,257,903 0.6%
February $6,637,691 $5,481,160 -17.4%
March $3,972,033 $4,286,051 7.9%
April $3,630,047 $4,050,977 11.6%
May $5,119,275 $4,931,320 -3.7%
June      
July      
August      
September      
October      
November      
December      
Year-To-Date Total $23,590,074 $23,007,411 -2.5%
         

Midland County
Motor Vehicle Sales Tax

(not adjusted for inflation)

January $2,538,772 $2,827,137 11.4%
February $2,272,509 $2,788,408 22.7%
March $2,886,807 $3,548,533 22.9%
April $2,780,734 $3,298,075 18.6%
May      
June      
July      
August      
September      
October      
November      
December      
YTD Total $10,478,823 $12,462,152 18.9%
         

City of Midland
Hotel/Motel Tax Receipts
Collected January, April, July and October
for previous quarters ending
December, March, June and September

(not adjusted for inflation)

January $1,284,553 $1,163,652 -9.4%
April $1,249,296 $1,113,081 -10.9%
July      
October      
YTD Total $2,533,849 $2,276,732 -10.1%
         
Midland International Airport
Passenger Enplanements
January 33,546 34,828 3.8%
February 33,409 36,323 8.7%
March 40,166 45,141 12.4%
April 38,313 40,193 4.9%
May      
June      
July      
August      
September      
October      
November      
December      
YTD Total 145,434 156,485 7.6%
         

City of Midland
Building Permit Valuation Total

(not adjusted for inflation)

January $22,361,591 $15,269,187 -31.7%
February $19,983,080 $23,730,318 18.8%
March $13,246,867 $43,767,225 230.4%
April $29,328,359 $21,143,868 -27.9%
May      
June      
July      
August      
September      
October      
November      
December      
YTD Total $84,919,897 $103,910,597 22.4%
         
City of Midland
New Single-Family Residence Permits
January 38 55 44.7%
February 32 75 134.4%
March 36 102 183.3%
April 61 80 31.1%
May      
June      
July      
August      
September      
October      
November      
December      
YTD Total 167 312 86.8%
         
Midland
Existing Home Sales
January    100 159 59.0%
February 120 147 22.5%
March 180 269 49.4%
April 156 208 33.3%
May      
June      
July      
August      
September      
October      
November      
December      
YTD Total 556 845 52.0%
         

Midland
Average Home Sale Price

(not adjusted for inflation)

January $251,364 $269,141 7.1%
February $261,760 $261,290 -0.2%
March $263,047 $279,221 6.1%
April $255,930 $285,879 11.7%
May      
June      
July      
August      
September      
October      
November      
December      
YTD Average $258,671 $274,751 6.2%
         

Midland
Home Sales Total Dollar Volume

(not adjusted for inflation)

January $25,136,405 $49,252,795 95.9%
February $31,411,193 $48,338,611 53.9%
March $47,348,499 $75,110,402 58.6%
April $39,925,058 $59,462,779 48.9%
May      
June      
July      
August      
September      
October      
November      
December      
YTD Total $143,821,155 $232,164,587 61.4%
         
Midland Payroll Employment
per Current Employment Statistics 
January   89,300 87,000 -2.6%
February 88,500 87,700 -0.9%
March 87,700 87,600 -0.1%
April 87,400 87,800 0.5%
May      
June      
July      
August      
September      
October      
November      
December      
YTD Average 88,225 87,525 -0.8%
         
Midland
Estimated Oil & Gas Employment
January 19,430 19,395 -0.2%
February 18,950 19,715 4.0%
March 18,580 19,555 5.2%
April 18,360 19,635 6.9%
May      
June      
July      
August      
September      
October      
November      
December      
YTD Average 18,830 19,575 4.0%
Midland
Unemployment Rate
January 4.0 4.1 2.5%
February 4.2 4.2 0.0%
March 4.4 4.0 -9.1%
April 4.5 3.5 -22.2%
May      
June      
July      
August      
September      
October      
November      
December      
YTD Average 4.3 4.0 -7.6%