2022 Economic Indicators: Q4 Release

February 6, 2023

Posted By: David Jackson in Chamber News,

With financial reporting for 2022 completed, the Boone Area Chamber of Commerce released its Q4 Economic Indicators report of 2022.

This quarterly report examines five key statistics within the Watauga County & High Country Economy, featuring a summary of local impacts by Dr. Harry Davis, Appalachian State and North Carolina Bankers Association Professor and long-standing regional economist. The report includes quick stats and commentary on local commercial real estate activity provided by James Milner, CCIM, Appalachian Commercial Real Estate. New for this report, a summary of the residential real estate market was supplied by Stacie Pineda, Stacie Pineda Real Estate Group.

VIEW THE Q4 ECONOMIC INDICATORS REPORT HERE

Data was compiled for residential home sales, net sales tax calculations, unemployment, occupancy tax collections, commercial real estate permit applications and transactions, and applications for permits of new single-family homes. These figures include the most recent data released for each category as well as historical data to help establish trends and further context toward the area’s economic stability.

"Like many areas of the country, our current economic conditions certainly require context," said David Jackson, President/CEO of the Boone Area Chamber of Commerce. "On one hand, our unemployment rate for December 2022 is tied for the lowest rate in the State. Finding a full workforce remains a struggle for many sectors of our community. Despite the challenges in the labor market, sales tax collections remain high, and our tourism economy remains strong. Compared to some communities, we are faring quite well, and should the economy slow down further, the High Country will enter that period in a position of strength."

A review of data for 2022 Quarters 1-4 can be found here:

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

If you have questions for the chamber, contact us at 828-264-2225 or email david@boonechamber.com.

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2022 Economic Indicators: Q4 Release

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