Midland Economic Indicators

Midland Economic Index June 2019
Economic Indicators*	Base Year 1996	Last Year 2018	This Year 2019	% Change 2018-2019
Taxable Spending - June (per sales tax rebates)	$141,940,170	$417,366,412	$470,293,640	12.7%
Taxable Spending - 2nd Quarter	$442,669,895	$1,300,206,962	$1,479,843,317	13.8%
Taxable Spending - YTD	$915,636,288	$2,629,517,182	$3,009,410,664	14.4%
Dollars Spent on Auto Purchases - June	$14,981,686	$60,766,247	$85,108,636	40.1%
Dollars Spent on Auto Purchases - 2nd Quarter	$44,588,681	$206,554,450	$245,609,044	18.9%
Dollars Spent on Auto Purchases - YTD	$88,002,224	$423,122,720	$472,065,173	11.6%
Hotel/Motel Revenue - Quarter	$5,051,588	$46,506,398	$37,255,739	-19.9%
Hotel/Motel Revenue - YTD	$14,159,291	$115,633,503	$110,613,384	-4.3%
Airline Boardings - June	49,408	54,747	58,838	7.5%
Airline Boardings - 2nd Quarter	143,388	156,376	165,536	5.9%
Airline Boardings - YTD	270,562	290,133	308,376	6.3%
Value All Building Permits - June	$9,024,905	$29,754,485	$78,953,666	165.4%
Value All Building Permits - 2nd Quarter	$57,263,485	$105,396,557	$168,975,550	60.3%
Value All Building Permits - YTD	$87,568,453	$335,615,192	$399,794,056	19.1%
Permits for New Homes - June	19	113	66	-41.6%
Permits for New Homes - 2nd Quarter	89	268	213	-20.5%
Permits for New Homes - YTD	162	556	854	53.6%
Sales of Existing Homes - June	157	270	261	-3.3%
Sales of Existing Homes - 2nd Quarter	455	759	799	5.3%
Sales of Existing Homes - YTD	775	1,352	1,412	4.4%
Average Home Sale Price - June	$89,041	$339,317	$357,662	5.4%
Average Home Sale Price - 2nd Quarter	$83,529	$336,738	$351,232	4.3%
Average Home Sale Price - YTD	$84,252	$320,247	$341,630	6.7%
Home Sales Dollar Volume - June	$23,613,757	$93,882,698	$93,349,773	-0.6%
Home Sales Dollar Volume - 2nd Quarter	$64,396,507	$262,430,967	$281,274,805	7.2%
Home Sales Dollar Volume - YTD	$111,048,973	$445,784,397	$484,697,038	8.7%
Employment
Wage & Salary Employment - June	53,600	108,400	111,300	2.7%
Wage & Salary Employment - 2nd Quarter	53,200	107,500	110,500	2.8%
Wage & Salary Employment - YTD Average	52,815	105,465	110,415	4.7%
Unemployment Rate - June	5.3	2.3	2.1	-8.7%
Unemployment Rate - 2nd Quarter	4.9	2.1	1.8	-11.3%
Unemployment Rate - YTD Average	4.8	2.2	2.0	-8.3%
INDEX - June (Base = 100 January 1996)	103.6	250.0	275.1	10.0%

* With the exception of the average home sale price, all economic indicators expressed in dollar form above are adjusted for inflation by restating prior periods in current dollars.

Midland, Texas Economic Indicators
		2018	2019	% Change 2018-2019
City of Midland Sales Tax Rebate (not adjusted for inflation)	January	$4,605,591	$5,718,746	24.2%
	February	$6,131,736	$7,213,871	17.6%
	March	$5,401,078	$6,047,200	12.0%
	April	$4,732,483	$5,678,067	20.0%
	May	$6,030,437	$6,909,294	14.6%
	June	$5,102,299	$5,878,671	15.2%
	July	$5,748,985	$6,210,666	8.0%
	August
	September
	October
	November
	December
	Year-To-Date Total	$37,752,610	$43,656,515	15.6%
Midland County Motor Vehicle Sales Tax (not adjusted for inflation)	January	$4,205,787	$4,884,126	16.1%
	February	$5,442,403	$4,659,710	-14.4%
	March	$3,877,032	$4,687,519	20.9%
	April	$4,622,810	$5,304,691	14.8%
	May	$4,401,605	$4,696,449	6.7%
	June	$3,781,858	$5,319,290	40.7%
	July
	August
	September
	October
	November
	December
	YTD Total	$26,331,495	$29,551,784	12.2%
City of Midland Hotel/Motel Tax Receipts Collected January, April, July and October for previous quarters ending December, March, June and September (not adjusted for inflation)	January	$2,046,436	$2,572,063	25.7%
	April	$2,702,697	$2,520,290	-6.7%
	July	$3,201,813	$2,607,902	-18.5%
	October
	YTD Total	$7,950,947	$7,700,255	-3.2%
Midland International Airport Passenger Enplanements	January	40,433	43,436	7.4%
	February	42,886	45,860	6.9%
	March	50,438	53,544	6.2%
	April	47,827	50,350	5.3%
	May	53,802	56,348	4.7%
	June	54,747	58,838	7.5%
	July
	August
	September
	October
	November
	December
	YTD Total	290,133	308,376	6.3%
City of Midland Building Permit Valuation Total (not adjusted for inflation)	January	$50,786,609	$120,162,955	136.6%
	February	$131,633,045	$84,110,807	-36.1%
	March	$33,838,832	$25,223,542	-25.5%
	April	$21,315,486	$50,794,398	138.3%
	May	$50,760,732	$39,210,539	-22.8%
	June	$28,601,266	$78,953,666	176.0%
	July
	August
	September
	October
	November
	December
	YTD Total	$316,935,970	$398,455,908	25.7%
City of Midland New Single-Family Residence Permits	January	74	48	-35.1%
	February	91	71	-22.0%
	March	123	54	-56.1%
	April	64	67	4.7%
	May	91	80	-12.1%
	June	113	66	-41.6%
	July
	August
	September
	October
	November
	December
	YTD Total	556	386	-30.6%
Midland Existing Home Sales	January	164	169	3.0%
	February	199	181	-9.0%
	March	230	263	14.3%
	April	241	281	16.6%
	May	248	257	3.6%
	June	270	261	-3.3%
	July
	August
	September
	October
	November
	December
	YTD Total	1,352	1,412	4.4%
Midland Average Home Sale Price (not adjusted for inflation)	January	$288,897	$303,238	5.0%
	February	$307,241	$328,528	6.9%
	March	$299,434	$346,148	15.6%
	April
	May
	June
	July
	August
	September
	October
	November
	December
	YTD Average	$299,140	$329,199	10.0%
Midland Home Sales Total Dollar Volume (not adjusted for inflation)	January	$47,379,123	$51,247,239	8.2%
	February	$61,140,893	$59,463,668	-2.7%
	March	$68,869,975	$92,075,474	33.7%
	April
	May
	June
	July
	August
	September
	October
	November
	December
	YTD Total	$177,389,991	$202,786,381	14.3%
Midland Payroll Employment per Current Employment Statistics	January	102,000	111,500	9.3%
	February	103,600	110,000	6.2%
	March	104,700	109,500	4.6%
	April
	May
	June
	July
	August
	September
	October
	November
	December
	YTD Average	103,433	110,333	6.7%
Midland Estimated Oil & Gas Employment	January	26,250	30,810	17.4%
	February	27,125	29,540	8.9%
	March	27,595	29,620	7.3%
	April
	May
	June
	July
	August
	September
	October
	November
	December
	YTD Average	26,990	29,990	11.1%
Midland Unemployment Rate	January	2.4	2.3	-4.2%
	February	2.3	2.2	-4.3%
	March	2.3	2.1	-8.7%
	April
	May
	June
	July
	August
	September
	October
	November
	December
	YTD Average	2.3	2.2	-5.7%