Tri-Cities Market Pulse – Oct. data


October was another strong performance month for major housing market and economic indicators across the Tri-Cities.

Existing home sales, nonfarm jobs, employment and sales tax collections are up.

Home sales should move past their 2014 annual total next month. If they continue at the current pace and sustain the pace from the last two months of 2014 they will end 2015 with a year-to-year growth in the 9% range.

Nonfarm jobs moved above their Oct. 2008 pre-recession benchmark and employment was up for the ninth straight month when compared to the same months of the previous year.

Private sector average wages in the Johnson City MSA made their largest increase this year in October. It was also the third straight month of year-to-year gains. Kingsport-Bristol wages saw a smaller monthly increase but has replaced the Johnson City MSA as the Tri-Cities region with the highest private sector wages.

The full Market Pulse Report is on the NETAR Web Site at http://www.netar.us/market-pulse-new/primary-tri-cities-housing-market-economy-indicators-post-strong-oct-performance/

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