June 2017 Press Release

Tallahassee’s Economy Blooms In June: Real Estate, Employment Lead d

Tallahassee, FL – The Tallahassee Economic Index (TEI), the city’s top economic growth indicator, today released numbers ending June 2017.After two months of almost no movement, the local economy founds some legs and ran. Multiple indicators saw substantial upward moves in activity.

“After a brief pause in April and May, the TEI picked back up in June with a broad surge across several categories.” said TEI Founder Brett F. Ewing. “The June numbers were led once again by strong real estate and employment numbers highlighted by one of the biggest gains in median sales price in four years.”

The Index moved up 6.25 points, from 51.04 in May to 57.29 in June.

“June gave us plenty of reasons to smile as the second best TEI gain of the year signals a green light on the economic outlook for Tallahassee,” said Lance Mitchell, Director of Research at the TEI. “Increases in local spending stretched across both retail and business categories as economic confidence appears to have picked back up after experiencing a pause in the past several months. We look forward to seeing if this can continue in the upcoming months.”

• New Construction Permits jumped by 11.9 percent from May to June and 62 percent from last June
• Median Home Sales Prices were boosted by 7.38 percent MoM and are 19.27 percent higher YoY
• Realtor Sales grew by 6.43 percent from last month and were down by .8 percent from last June
• Drinking Places have seen sales fall lately, dropping 16.01 percent from May, and 21.99 percent from June of 2016
• Initial Claims for Reemployment Assistance decreased 3.13 percent from May and 16.25 percent from last June
• Lumber and Other Building Materials have seen growth for nine of the past 12 months on a seasonally adjusted basis. In June there was 6.32 percent more activity than June of last year.