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Waco April index grows for sixth consecutive monthWaco April index grows for sixth consecutive monthhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=40682014-06-03T06:56:00Z2014-06-02T00:00:00Z

WACO - The Greater Waco Economic Index grew to 113.3 for April, the sixth consecutive month of growth and a 3.7 percent jump from 109.3 in April 2013, according to a report from Amarillo-based economist Karr Ingham.

The unemployment rate fell to 4.4 percent, a 23 percent drop over April 2013. Inflation-adjusted consumer spending for the region reached $168.4 million, a 2.9 percent increase over sales tax receipts in April 2013.

Total building permit valuations were $32.4 million, a 42.2 percent drop from April 2013.

Ingham noted, however, that April 2013 permit valuations were up by 518 percent over the same month the previous year due to major construction projects including an H-E-B Plus!, McLane Stadium and the Baylor Research and Innovation Collaborative.

“When you look at projects coming in the pipeline, we’re definitely a growing community,” said Whitney Richter, marketing and research manager for the Greater Waco Chamber of Commerce.

New home construction permits fell from 41 in April 2013 to 22 in April 2014, a 46.3 percent decrease. Those figures only reflect Waco home permits, while areas that are seeing greater residential development, like McGregor, Robinson, Woodway and Hewitt, are not included.

April did register 219 existing home sales, the second-highest recorded total for April since the index’s creation. In addition, the average home price rose to $138,831, a 15 percent jump over April 2013.

Waco Tribune-Herald
Waco
Economy
http://www.wacotrib.com/news/business/greater_waco_economic_index/greater-waco-economy-grows-with-increased-spending-lower-unemployment/article_80520c7e-def9-534d-94ab-a4afd1a18471.htmlRead more at {Source}

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