WACO – The local economy is not in recession, says Amarillo-based economist Karr Ingham. Ingham’s Greater Waco Economic Index dipped again in April, but “. . . as long as general spending and employment continue to expand, the economy virtually by definition remains an expanding economy.”
Permits for mostly nonresidential ventures in April in Waco totaled $133 million. Permits through April were valued at $732 million, a 186 percent increase from the $256 million in permits issued through April last year.
On the other hand, the average home sales price in April 2023 was $317,571, less than 1 percent below norm from a year earlier. Builders secured 45 permits in April to build single-family homes, a decline of more than 46 percent year over year.
Revenue generated by local hotels and motels hit $8.2 million in April, nearly a 21 percent jump from a year earlier.