New construction was up year-over-year. Job growth was also strong.
“Auto sales were up sharply compared to year-ago levels,” the monthly study said. “Auto sales were up by double-digit percentage points for the third straight month…”
Even after adjusting for inflation Lubbockites were spending 21% more for automobiles in March as compared to March of 2013.
Both new home construction and the sale of existing homes were down for the first quarter of 2014 according to the report. However, “On balance home sales activity in Lubbock … remains at a generally high and healthy level.”
The annualized inflation rate in Lubbock was 2.2% for March – a slight increase from February.