The Lubbock Economic Index continues to register improvements in the city’s general economy for the month of October, with a significant drop in the value of construction permits.
Including both residential and commercial permits, the study provided by Lubbock National Bank shows a 47.9 percent drop in October compared to the same month last year.
A housing and development boom starting in late 2012 could partially explain the plummet, said George McMahan, president of the West Texas Home Builders Association.