The University of South Alabama Mitchell College of Business Center for Real Estate Studies released its economic growth report for the third quarter of 2007.
In general, the Mobile economy for the third quarter dipped slightly. However, the Mobile economy, according to the USA MCOB Center for Real Estate Studies Mobile GNP Indicator, shows and average growth of 2.3 percent compared with last year’s numbers.
“The Mobile level of economic activity has shown good, steady growth over the past 12 months. The workforce has become more diversified, the level of non-farm workers has reached a high point, and the unemployment rate dropped to 3.2 percent. Our projections from the 24 indicators that we track show good steady growth into the next quarter. Mobile is a good place to be located,” said Dr. Don Epley, director of the Center for Real Estate Studies and distinguished professor of real estate at the Mitchell College of Business.
The Mobile GNP Indicator is a number generated by the Center for Real Estate Studies that estimates movement in the local economy comparable to the Gross National Product (GNP) for the national economy. It is constructed to estimate real economic growth by following changes in real income of the local workforce.
The USA Mitchell College of Business opened the Center for Real Estate Studies in fall 2006 upon initiation of USA’s first real estate program. The center provides information about the Gulf Coast economy and real estate market.
Click here to download a copy of the report for the third quarter.
Click here to download a copy of the Mobile MSA Leading GNP Indicator.
For past reports and data visit http://cres.southalabama.edu/.
For interviews with Epley, call (251) 460-6735.
Before joining USA, Epley held the position of Lyon Distinguished Professor of Finance and Real Estate at Washington State University. Epley is the author and co-author of eight textbooks and more than 80 referenced journal articles. Textbook topics include real estate decisions, real estate finance and investments, income property appraisal, and brokerage. Epley received bachelor’s and master’s degrees from Wichita State University and a doctorate from the University of Missouri. He holds CCIM, MAI, and SRA professional designations and is a licensed real estate broker and certified general real estate appraiser.