Midland Economic Indicators

 

Midland Economic Index May 2017
Economic Indicators*

Base Year

1996

Last Year

2016

This Year

2017

% Change

2016-2017

Taxable Spending - May (per sales tax rebates) $169,327,637 $349,351,583 $328,754,672 -5.9%
Taxable Spending - YTD $741,508,459 $1,616,783,726 $1,538,801,792 -4.8%
Dollars Spent on Auto Purchases - May $14,842,833 $42,558,799 $60,768,369 42.8%
Dollars Spent on Auto Purchases - YTD $72,873,399 $207,197,758 $259,160,567 25.1%
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 - May 50,264 40,917 46,621 13.9%
Airline Boardings - YTD 221,154 186,351 203,106 9.0%
Value All Building Permits - May $21,567,567 $20,601,410 $18,772,714 -8.9%
Value All Building Permits - YTD $71,593,441 $106,185,316 $123,392,269 16.2%
Permits for New Homes - May 35 43 57 32.6%
Permits for New Homes - YTD  143 210 369 75.7%
Sales of Existing Homes - May 154 189 234 23.8%
Sales of Existing Homes - YTD 618 745 1,099 47.5%
Average Home Sale Price - May $81,433 $284,856 $308,994 8.5%
Average Home Sale Price - YTD $83,035 $265,314 $283,271 6.8%
Home Sales Dollar Volume - May $20,143,149 $55,084,186 $72,304,480 31.3%
Home Sales Dollar Volume - YTD $82,849,186 $202,712,192 $312,581,008 54.2%
Employment
Wage & Salary Employment - May 53,400 86,800 88,200 1.6%
Wage & Salary Employment - YTD Average 52,660 87,940 87,680 -0.3%
Unemployment Rate - May 4.9 4.5 3.4 -24.4%
Unemployment Rate - YTD Average 4.7 4.3 3.8 -11.1%
INDEX - May (Base = 100 January 1996) 103.3 200.2 196.8 -1.7%

* 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 $3,777,140 $4,402,437 16.6%
July      
August      
September      
October      
November      
December      
Year-To-Date Total $27,367,215 $27,409,848 0.2%
         

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 $2,696,472 $3,798,023 40.9%
June      
July      
August      
September      
October      
November      
December      
YTD Total $13,175,295 $16,260,176 23.4%
         

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 40,917 46,621 13.9%
June      
July      
August      
September      
October      
November      
December      
YTD Total 186,351 203,106 9.0%
         

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 $20,332,298 $18,772,714 -7.7%
June      
July      
August      
September      
October      
November      
December      
YTD Total $105,252,195 $122,683,312 16.6%
         
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 43 57 32.6%
June      
July      
August      
September      
October      
November      
December      
YTD Total 210 369 75.7%
         
Midland
Existing Home Sales
January    100 182 82.0%
February 120 185 54.2%
March 180 265 47.2%
April 156 233 49.4%
May 189 234 23.8%
June      
July      
August      
September      
October      
November      
December      
YTD Total 745 1,099 47.5%
         

Midland
Average Home Sale Price

(not adjusted for inflation)

January $251,364 $268,422 6.8%
February $261,760 $259,020 -1.0%
March $263,047 $280,622 6.7%
April $255,930 $291,303 13.8%
May $284,856 $308,994 8.5%
June      
July      
August      
September      
October      
November      
December      
YTD Average $265,314 $283,271 6.8%
         

Midland
Home Sales Total Dollar Volume

(not adjusted for inflation)

January $25,136,405 $48,852,795 94.4%
February $31,411,193 $47,918,742 52.6%
March $47,348,499 $74,364,856 57.1%
April $39,925,058 $67,873,513 70.0%
May $53,837,807 $72,304,480 34.3%
June      
July      
August      
September      
October      
November      
December      
YTD Total $197,658,962 $311,314,386 57.5%
         
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 87,900 0.6%
May 86,800 88,200 1.6%
June      
July      
August      
September      
October      
November      
December      
YTD Average 87,940 87,680 -0.3%
         
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 18,085 19,715 9.0%
June      
July      
August      
September      
October      
November      
December      
YTD Average 18,681 19,603 4.9%
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 4.5 3.4 -24.4%
June      
July      
August      
September      
October      
November      
December      
YTD Average 4.3 3.8 -11.1%