Waco growth spurred by construction, home sales, jobs Waco growth spurred by construction, home sales, jobs https://www.recenter.tamu.edu/news/newstalk-texas/?Item=94402012-10-02T11:26:00Z2012-10-02T00:00:00Z

WACO - For the seventh straight month, Waco's economy has shown improvement in a study prepared by Karr Ingham, Amarillo economist.

The Greater Waco Economic Index rose to 105.4 last month, up from 104.8 in July and 101.9 in August 2011. That is the highest year-over-year increase since August 2007.

The number of closed sales on existing homes was up nearly 30 percent in August 2012 from August 2011. For the year to date, home sales are up by about 7 percent.

The average home price was up nearly 10 percent compared to August 2011, and the year-to-date average is up 4.9 percent compared to first eight months of 2011.

Waco’s general construction sector posted permits issued for projects valued at $26 million for August 2012, a 130 percent increase compared to August 2011.

Ingham said the Greater Waco economy created an estimated 600 jobs in the last 12 months.

Auto sales continue to improve in Waco, with inflation-adjusted spending on new and used vehicles beating the August 2011 number by nearly 17 percent. Ingham said the sector has nearly fully recovered from the recession-induced downturn of 2009.

Waco Tribune-Herald
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