Midland-Odessa economy posts 13th month of expansion

​​MIDLAND – Midland and Odessa were enjoying a thriving economy as 2017 was coming to a close.

The November Midland-Odessa Regional Economic Index, prepared by Amarillo Economist Karr Ingham for the Midland Development Corp., came in 12.1 percent higher than November 2016, posting its 13th consecutive month of expansion.​

A record 3,723 existing homes had been sold through November 2017, up 27.4 percent from the 2,922 sold in the previous year.

November’s average homes sales price of $255,580 was up 4.3 percent from the last November’s $245,013.

The value of all building permits jumped 71.5 percent over November 2016 levels.

Retail spending in November was 33.1 percent above the previous November.

Hotel-motel tax collections soared 73.4 percent in the same period.