Despite inflation, Waco economy continues to purr | Local Business News
Inflation is devouring buying power, but locals continue to spend. Car lots do not display the inventory they once did, but customers are placing orders and waiting up to a year for delivery. The average home sales price in April hit $321,933, the sixth straight month the norm jumped by a double-digit percentage compared to a year earlier.
Those revelations and more appeared in economist Karr Ingham’s April Greater Waco Economic Index, which he prepares for the First National Bank of Central Texas and the Tribune-Herald using data dating to 2000.
Ingham reported the Waco economy has performed well at least through the first four months of the year. The raw GWEI score improved to 148.1 in April, up from 147.3 in March, and stood 10% improved year-over-year.
“The Waco metro area economy has been making a statement in the wake of COVID and other economic issues,” Ingham wrote. “Time will tell whether the US economy is…