Waco wins for 18th straight month

WACO – The Greater Waco Economic Index hit 112.1 in July 2013, up from 112.0 June, the increase represents 18 consecutive months of climbing, according to Amarillo economist Karr Ingham.

There was a 5.4 percent increase in the number of existing homes sold in July 2013 compared to July 2012.

Through July, 1,351 existing homes have changed hands, which is 11.1 percent more than during the first seven months of 2012.

Additional highlights:

• Inflation-adjusted taxable spending was up 3.1 percent compared to July 2012, which in turn was up 7.5 percent from July 2011.
   
• So far in 2013, retail spending totals $1.26 billion in Waco and nine surrounding communities, including McGregor and West, a 3.9 percent hike.
   
• The private sector created 2,400 jobs in McLennan County during the past year, while government jobs fell by 200 positions.
   
• Sales of new and used vehicles were up 15 percent from July 2012, which were up 7 percent from July 2011.

Permits for construction totaled $17.7 million in July 2013, but were dwarfed by the $74 million in July 2012. The $451 million total so far in 2013 is skewed by the $260 million permit for construction of the new Baylor Stadium on Lake Brazos.

A total of 32 building permits were issued in July 2013 for single-family home construction, a slight drop from the 37 in July 2012.

Overall, a total of 239 permits were issued through July 2013, a 17.2 percent increase from the same period in 2012.