April 2019 Press Release


June 24, 2019

FOR IMMEDIATE RELEASE CONTACT:

Chelsea Gold
(850) 422-7724
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Local Economy Gets Spring Fever In April

Resurgence in Construction Permits and Real Estate Fuel Bounce Back

Tallahassee, FL – The Tallahassee Economic Index (TEI), the city’s top economic growth indicator, today released numbers ending April 2019. Following a 4.42 point slip in March, the Index saw a 5.15 point accretion from 44.96 to 50.10 in April.

“Tallahassee’s economy continues the positive trend that has prevailed for most of this year, pushing the index higher in three out of the last four months. It is now competing for the best start to a year since 2016. Airport Traffic and Lumber/ Building Supplies Sales continue to please, both have been on a tear seeing multiple months of seasonally adjusted growth” said TEI Founder Brett F. Ewing. “Despite having the lowest YoY growth rate since 2016 Median Sales Prices of Existing Homes helped fuel this month’s rebound by growing more than four percent compared to April of last year.”

“The TEI bounced right back in April & continued its momentum in what is turning out to be a very nice year of accelerating growth for the capital city.” Said Lance Mitchell, Director of Research at the TEI. “New construction permits has been trending up all year, but April marked its strongest month, almost doubling from this time last year. Realtor sales surged, increasing over 20% YoY, proving lower mortgage rates can spark demand and stopping a worrying trend of declines in that category. As we head into the Summer months, we feel it’s important to see this trend endure if we expect growth to continue its acceleration into the back half of the year.”

  • Airport Traffic dipped 3.30 percent from last month, and continued its ascent moving up 4.19 percent from one year ago
  • New Construction Building Permits grew 27.45 percent MoM, and 85.71 percent YoY
  • Median Sales Prices of Single Family Homes gained 4.42 percent from March, and compared to April of last year
  • Initial Claims for Reemployment Assistance went up 16.74 percent MoM, and slipped 16.47 percent YoY

The components of the TEI include:

Initial Unemployment Claims

Office Supplies

Lumber

Building Permits

Average Home Sales Price

Realtor Sales Counts

Shoe Stores

Advertising

Home Furniture

Graphic Arts, Printing and Publishing

Household Appliances

Apparel

Airport Traffic

Pawn Shops

Drinking Establishments


About the TEI

Powered by First Franklin Financial Services, the TEI tracks and predicts economic growth in the city of Tallahassee, Florida. This is accomplished using data collected from official sources throughout Leon County. More info at TallahasseeEconomicIndex.com.

CONTACT

  • Tallahassee Economic Index
  • 2528 BARRINGTON CIRCLE #1
  • TALLAHASSEE, FL 32308
  • Phone:
    (850) 422-7724
  • Fax:
    (850) 422-7736

The Tallahassee Economic Index, First Franklin Financial Services and Centaurus Financial Incorporated are not affiliated companies.

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