Midland Economic Indicators

 

Midland Economic Index March 2018
Economic Indicators*

Base Year

1996

Last Year

2017

This Year

2018

% Change

2017-2018

Taxable Spending - March (per sales tax rebates) $127,042,023 $290,886,819 $432,086,256 48.5%
Taxable Spending - YTD $460,051,879 $953,613,160 $1,293,012,937 35.6%
Dollars Spent on Auto Purchases - March $14,559,817 $56,761,636 $62,032,520 9.3%
Dollars Spent on Auto Purchases - YTD $43,350,120 $146,054,731 $216,111,767 48.0%
Hotel/Motel Tax Revenue - Quarter $4,550,431 $16,777,084 $29,234,800 74.3%
Hotel/Motel Tax Revenue - YTD $4,550,431 $16,777,084 $29,234,800 74.3%
Airline Boardings - March 48,155 45,141 50,438 11.7%
Airline Boardings - YTD 127,174 116,292 133,757 15.0%
Value All Building Permits - March  $7,916,678 $45,568,625 $33,838,832 -25.7%
Value All Building Permits - YTD $28,601,650 $86,366,167 $217,287,737 151.6%
Permits for New Homes - March 29 102 123 20.6%
Permits for New Homes - YTD  73 232 288 24.1%
Sales of Existing Homes - March 146 265 231 -12.8%
Sales of Existing Homes - YTD 320 628 593 -5.6%
Average Home Sale Price - March $86,723 $280,971 $298,842 6.4%
Average Home Sale Price - YTD $85,280 $272,078 $299,038 9.9%
Home Sales Dollar Volume - March $20,938,858 $76,521,336 $69,032,561 -9.8%
Home Sales Dollar Volume - YTD $45,225,259 $175,943,409 $177,682,210 1.0%
Employment
Wage & Salary Employment - March 52,700 89,800 97,400 8.5%
Wage & Salary Employment - YTD Average 52,435 89,100 97,365 9.3%
Unemployment Rate - March 4.6 3.5 2.4 -31.4%
Unemployment Rate - YTD Average 4.7 3.8 2.4 -35.4%
INDEX - March (Base = 100 January 1996) 101.6 195.1 232.6 19.2%

* 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
    2017 2018 % Change
2017-2018

City of Midland
Sales Tax Rebate

(not adjusted for inflation)

January $4,257,903 $4,605,591 8.2%
February $5,481,160 $6,131,736 11.9%
March $4,286,051 $5,401,078 26.0%
April $4,050,977 $4,732,483 16.8%
May      
June      
July      
August      
September      
October      
November      
December      
Year-To-Date Total $18,076,091 $20,870,889 15.5%

Midland County
Motor Vehicle Sales Tax

(not adjusted for inflation)

January $2,827,137 $4,205,787 48.8%
February $2,788,408 $5,442,403 95.2%
March $3,548,533 $3,877,032 9.3%
April      
May      
June      
July      
August      
September      
October      
November      
December      
YTD Total $9,164,077 $13,525,223 47.6%

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 $1,163,652 $2,046,436 75.9%
April      
July      
October      
YTD Total $1,163,652 $2,046,436 75.9%
Midland International Airport
Passenger Enplanements
January 34,828 40,433 16.1%
February 36,323 42,886 18.1%
March 45,141 50,438 11.7%
April      
May      
June      
July      
August      
September      
October      
November      
December      
YTD Total 116,292 133,757 15.0%

City of Midland
Building Permit Valuation Total

(not adjusted for inflation)

January $15,269,187 $50,786,609 232.6%
February $23,730,318 $131,633,045 454.7%
March $43,767,225 $33,838,832 -22.7%
April      
May      
June      
July      
August      
September      
October      
November      
December      
YTD Total $82,766,729 $216,258,486 161.3%
City of Midland
New Single-Family Residence Permits
January 55 74 34.5%
February 75 91 21.3%
March 102 123 20.6%
April      
May      
June      
July      
August      
September      
October      
November      
December      
YTD Total 232 288 24.1%
Midland
Existing Home Sales
January 175 164 -6.3%
February 188 206 9.6%
March 265 231 -12.8%
April      
May      
June      
July      
August      
September      
October      
November      
December      
YTD Total 628 593 -5.6%

Midland
Average Home Sale Price

(not adjusted for inflation)

January $273,287 $287,939 5.4%
February $258,416 $308,356 19.3%
March $280,971 $298,842 6.4%
April      
May      
June      
July      
August      
September      
October      
November      
December      
YTD Average $265,585 $298,909 12.5%

Midland
Home Sales Total Dollar Volume

(not adjusted for inflation)

January $47,825,278 $46,934,123 -1.9%
February $48,582,242 $61,362,821 26.3%
March $74,457,191 $69,032,561 -7.3%
April      
May      
June      
July      
August      
September      
October      
November      
December      
YTD Total $170,864,711 $177,329,505 3.8%
Midland Payroll Employment
per Current Employment Statistics 
January 88,200 97,300 10.3%
February 89,300 97,400 9.1%
March 89,800 97,400 8.5%
April      
May      
June      
July      
August      
September      
October      
November      
December      
YTD Average 89,100 97,367 9.3%
Midland
Estimated Oil & Gas Employment
January 19,090 24,090 26.2%
February 19,525 24,250 24.2%
March 19,905 25,120 26.2%
April      
May      
June      
July      
August      
September      
October      
November      
December      
YTD Average 19,507 24,487 25.5%
Midland
Unemployment Rate
January 4.0 2.4 -40.0%
February 3.8 2.5 -34.2%
March 3.5 2.4 -31.4%
April      
May      
June      
July      
August      
September      
October      
November      
December      
YTD Average 3.8 2.4 -35.4%