San Antonio Economy Keeps on Trucking

The Federal Reserve Bank of Dallas’ just-released report noted that the San Antonio economy is still expanding. According to the Fed, December 2017’s San Antonio Business-Cycle Index grew at its fastest pace since early 2015, mainly due to job growth and unemployment.

The business cycle expanded at a 6.2% annualized rate, an increase from November 2017’s 5.9%. December’s annualized job growth increased by 7.8%, and over 2017, the index’s growth averaged 4.6%, well above the area’s long-term average. The unemployment rate dipped to 3.8%, while the labor force grew by 3.4% for the entire year.

Housing remained healthy, with the number of permits for new, single-family home construction increasing by 17% over 2017. Meanwhile, San Antonio median home sales price reached an all-time high of $219,866.

For comments, questions or concerns, please contact Amy Sorter