Midland-Odessa Regional Economic Index

 

Midland-Odessa Regional Economic Index

Economic Indicators*

December 2017

Base Year

1996

Last Year

2016

This Year

2017

% Change

2016-2017

Taxable Spending - December (Per Sales Tax Rebates) $265,153,016 $534,168,890 $721,960,066 35.2%
Taxable Spending- 4th Quarter $796,618,220 $1,649,970,981 $2,265,319,355 37.3%
Taxable Spending - YTD $3,197,756,428 $6,736,141,439 $8,055,413,595 19.6%
Dollars Spent on Auto Purchases - December $31,593,488 $82,117,542 $100,080,240 21.9%
Dollars Spent on Auto Purchases - 4th Quarter $94,505,666 $235,907,203 $330,687,855 40.2%
Dollars Spent on Auto Purchases - YTD $387,286,493 $975,859,535 $1,249,806,303 28.1%
Hotel/Motel Spending - Quarter $9,555,302 $27,323,244 $47,387,148 73.4%
Hotel/Motel Spending - YTD $35,631,440 $118,676,372 $149,753,757 26.2%
Airline Passenger Enplanements - December 46,648 42,531 56,639 33.2%
Airline Passenger Enplanements - 4th Quarter 136,989 124,372 150,948 21.4%
Airline Passenger Enplanements - YTD 547,024 467,595 530,322 13.4%
Value All Building Permits - December $11,124,317 $47,656,891 $25,607,461 -46.3%
Value All Building Permits - 4th Quarter $45,632,975 $131,484,569 $128,710,378 -2.1%
Value All Building Permits - YTD $222,299,069 $574,175,467 $657,956,388 14.6%
Permits for New Homes - December 24 116 63 -45.7%
Permits for New Homes - 4th Quarter  94 315 243 -22.9%
Permits for New Homes - YTD 123 1,100 1,330 20.9%
Sales of Existing Homes - December 148 272 330 21.3%
Sales of Existing Homes - 4th Quarter 456 768 995 29.6%
Sales of Existing Homes - YTD 2,470 3,170 4,059 28.0%
Average Home Sale Price - December $77,700 $244,177 $262,066 7.3%
Average Home Sale Price - 4th Quarter  $74,433 $243,112 $256,098 5.3%
Average Home Sale Price - YTD $76,967 $242,848 $260,167 7.1%
Dollar Volume of Residential Real Estate Sales - December $18,401,355 $68,244,557 $86,481,761 26.7%
Dollar Volume of Residential Real Estate Sales - 4th Quarter $54,421,057 $192,189,188 $255,430,344 32.9%
Dollar Volume of Residential Real Estate Sales - YTD $310,286,953 $797,901,220 $1,068,953,423 34.0%
Employment
Wage and Salary Employment - December 102,300 157,600 161,400 2.4%
Wage and Salary Employment - 4th Quarter 102,300 157,167 160,835 2.3%
Wage and Salary Employment - YTD Average 100,175 157,000 158,625 1.0%
Unemployment Rate - December 4.7 4.8 2.8 -40.5%
Unemployment Rate - 4th Quarter 5.0 4.9 2.8 -42.4%
Unemployment Rate - YTD Average 5.7 5.4 3.8 -29.0%
TEXAS PBPI - December** 112.0 218.4 281.4 28.9%
INDEX - December (Base = 100 January 1996) 106.7 190.8 215.5 12.9%

* With the exception of  the average home sale price, all economic indicators listed in dollar form above are adjusted for inflation by restating prior periods in current dollars
**  Texas Permian Basin Petroleum Index (Base=100 Jan 1996)