2017’s year-end New Pool Index (NPI) illustrated continued gradual growth and suggests more for this year.
The fourth-quarter NPI increased 9.5% over the same time in 2016, and represented a 2.8% rise from Q3 2017, according to Metrostudy, a Hanley Wood company and sister to PSN. The analysts attribute this at least in part to job and wage growth. As the labor pool continues to tighten, wages will necessarily increase. While a sore spot for many company owners, Metrostudy also expects this to help sales by offsetting investment income losses resulting from the recent stock market volatility. “Private sector wages increased 2.8 percent year-over-year during the final three months of 2017, the fastest rate since the recession, suggesting the long, slow recovery is finally reaching the wallets of Americans,” said Mark Boud, chief economist at Metrostudy, in a press release.
The firm forecasts a 10.6% annual increase for 2018, but believes growth will then moderate the following year.
Metrostudy also ranks the 320 areas it studies. Q4’s top 10, starting from the top, were North Port-Sarasota-Bradenton, Fla.; Naples-Immokalee-Marco Island, Fla.; Tampa-St. Petersburg-Clearwater, Fla.; Miami-Fort Lauderdale-West Palm Beach, Fla.; Los Angeles-Long Beach-Anaheim, Calif.; Orlando-Kissimmee-Sanford, Fla.; Deltona-Daytona Beach-Ormond Beach, Fla.; Panama City, Fla.; Cape Coral-Fort Myers, Fla.; and Pensacola-Ferry Pass-Brent, Fla.
To tabulate these figures, Metrostudy tracks permit statistics and analyzes data points for 381 local markets. Reports on local markets are sold by Metrostudy to interested parties.
