Fifty-four months of Midland-Odessa economic expansion

MIDLAND, ODESSA - The Midland-Odessa Regional Economic Index was 6.8 percent higher in August 2014 than in August 2013, and has recorded 54 straight months of economic expansion, according to economist Karr Ingham.

Midland and Odessa issued 107 permits in August 2014, up from 105 in August 2013. The two cities have issued 913 permits so far this year, up 2.4 percent from 892 last year, a total Ingham reports is higher than all annual totals other than 2012 and 2013.

Realtors sold 294 homes in August 2014, up 3.9 percent from 283 in August 2013. So far in 2014, 2,209 home have been sold, up 4.7 percent from 2,109 in August 2013.

The average home sales price was $254,327 in August 2014, up 0.3 percent from $253,496 in August 2013. The average price so far in 2014 is $247,467, up 10.9 percent from $223,061 to-date in 2013, which was 17 percent higher than the to-date 2012 average.