2023 Economic Indicators: Q4 Release
With financial reporting for the year completed, the Boone Area Chamber of Commerce released its Q4 Economic Indicators report of 2023.
This quarterly report examines five key statistics within the Watauga County & High Country Economy:
- Residential Home Sales
- Sales Tax
- Occupancy Tax
- Unemployment Rates
- New Single-Family Homes
This report also features a summary of local impacts by Dr. Harry Davis, Appalachian State and North Carolina Bankers Association Professor and long-standing regional economist. The report also includes quick stats and commentary on local commercial real estate activity provided by James Milner, CCIM, Appalachian Commercial Real Estate and a summary of the residential real estate market supplied by Stacie Pineda, Stacie Pineda Real Estate Group.
FULL 2023 QUARTER 4 ECONOMIC INDICATORS REPORT
"The National, State, and local economies continue to surprise to the upside. Every month that goes by increases the chance of a “soft-landing” rather than a recession. Very few economists and analysts expected this kind of strength at this time."
- Dr. Harry Davis, Appalachian State and North Carolina Bankers Association Professor
The 2023 Q4 Economic Indicators report was developed and data compiled with the assistance of the Watauga County Economic Development Commission, Watauga County Tourism Development Authority, High Country Association of Realtors, and the Chamber’s Business Development Committee.
"We have been fortunate that our adaptable workforce is still producing despite the cost of housing and the availability of childcare are working against them. We must continue to work to improve these foundational elements of our community and can point toward momentum building in each of these core projects," said David Jackson, President/CEO of the Boone Area Chamber of Commerce.
Economic Indicators reporting will continue in 2024, with Quarter 1 data expected in April after all relevant data has been reported by state and local agencies. A review of data for the previous four quarters can be found here:
Review Quarter 4 (December 2023) Economic Indicators
Review Quarter 2 (August 2023) Economic Indicators
Review Quarter 1 (May 2023) Economic Indicators
Review Quarter 4 (January 2023) Economic Indicators
To contact Dr. Harry Davis for follow-up comments, please contact the Walker College of Business at Appalachian State University at 828-262-4030. For James Milner, email james@appalachiancre.com. To reach Stacie Pineda, email stacie@staciepineda.com or email david@boonechamber.com.
Be sure to follow the Boone Area Chamber of Commerce on social media for interactive content with the professionals involved with this report.