Building Materials, Home Furnishings, Realtor Sales, Median Home Sales Price All Gained Big Year-Over-Year
Tallahassee, FL – The Tallahassee Economic Index (TEI), the city’s top economic growth indicator, today released numbers ending January 2016 which show an overall economic slowdown, but an improving housing market.
“The month of January marked the first time in over two years that the TEI has posted three consecutive months of deceleration. This lines up with other leading indicators across the country in which many have seen slowdowns in the recent months,” said TEI Founder Brett F. Ewing. “While you never want to see slowdowns, not all is bleak. Twelve out of the 15 indicators were at or above their yearly averages which shows a solid and steady picture, not a crashing one.”
Overall the index fell 1.58 points to 47.21, which follows a 13.54 point decrease in December and a 13.63 point drop in November.
“The TEI fell slightly, but the move was muted and the results much more promising than the last few months” said Lance Mitchell, Director of Research at the TEI. “After sending huge red flags recently, housing was the clear winner in this month’s release, with building materials, home furnishings, realtor sales, and median sales price all showing nice yearly gains.”