Midland-Odessa Regional Economic Index

The Midland-Odessa region has also experienced significant economic growth, growing at more than 20% overall. We invite you to view the tables below for updated economic data and to contact the MDC staff for additional information.


Midland-Odessa Regional Economic Index

Economic Indicators

December 2018

Base Year

1996

Last Year

2017

This Year

2018

% Change

2017-2018

Taxable Spending - December (Per Sales Tax Rebates) $270,979,484 $737,824,404 $962,678,704 30.5%
Taxable Spending - 4th Quarter $814,123,096 $2,315,097,445 $2,939,375,993 27.0%
Taxable Spending - YTD $3,268,023,875 $8,232,423,119 $11,117,129,417 35.0%
Dollars Spent on Auto Purchases - December $31,808,978 $100,990,437 $132,444,020 31.1%
Dollars Spent on Auto Purchases - 4th Quarter $95,150,263 $332,791,677 $427,102,184 28.3%
Dollars Spent on Auto Purchases - YTD $389,928,065 $1,258,220,788 $1,666,049,509 32.4%
Hotel/Motel Spending - Quarter $9,646,784 $47,840,832 $77,715,484 62.4%
Hotel/Motel Spending - YTD $35,972,575 $151,187,497 $283,303,275 87.4%
Airline Passenger Enplanements - December 46,648 56,639 52,018 -8.2%
Airline Passenger Enplanments - 4th Quarter 136,989 150,948 159,258 5.5%
Airline Passenger Enplanements - YTD 547,024 530,322 603,540 13.8%
Value All Building Permits - December $11,833,530 $27,244,725 $76,229,647 179.8%
Value All Building Permits - 4th Quarter $48,542,230 $136,931,682 $193,078,244 41.0%
Value All Building Permits - YTD $236,471,381 $699,920,628 $963,203,403 37.6%
Permits for New Homes - December 24 63 123 95.2%
Permits for New Homes - 4th Quarter 94 243 322 32.5%
Permits for New Homes - YTD 123 1,330 1,778 33.7%
Sales of Existing Homes - December 148 347 341 -1.7%
Sales of Existing Homes - 4th Quarter 456 1,024 1,104 7.8%
Sales of Existing Homes - YTD 2,470 4,100 4,521 10.3%
Average Home Sale Price - December 77,700 261,721 280,002 7.0%
Average Home Sale Price - 4th Quarter 74,433 256,196 281,435 9.9%
Average Home Sale Price - YTD 76,967 259,771 282,925 8.9%
Dollar Volume of Residential Real Estate Sales - December $18,868,709 $93,123,590 $95,480,631 2.5%
Dollar Volume of Residential Real Estate Sales - 4th Quarter $55,803,233 $269,646,241 $311,395,511 15.5%
Dollar Volume of Residential Real Estate Sales - YTD $318,167,564 $1,105,399,436 $1,292,587,438 16.9%
Employment
Wage and Salary Employment - December 102,300 173,400 180,900 4.3%
Wage and Salary Employment - 4th Quarter 102,300 172,665 180,435 4.5%
Wage and Salary Employment - YTD Average 100,175 166,600 177,835 6.7%
Unemployment Rate - December 4.7 2.6 2.3 -9.9%
Unemployment Rate - 4th Quarter 5.0 2.7 2.3 -14.9%
Unemployment Rate - YTD Average 5.7 3.5 2.5 -28.3%
TEXAS PBPI - December 111.5 288.7 343.8 19.1%
INDEX - December (Base = 100 January 1996) 106.7 222.4 260.1 16.9%