<p> ECON NOTES</p><p>November, 2014</p><p>Local Econ Development:</p><p>Lewisville/Clemmons Economic Overview:</p><p>Lewisville and Clemmons continues experiencing growth. Clemmons has grown in population from 18,627 to 19,108 or 2.6%. Lewisville from 12,639 to 13,050 or 3.3%. (Source US Census Bureau). These communities have a combined population growth of 5.9%.</p><p>According to the Karnes report, “preliminary figures signaled an uptick in the recovery during the past 12 month period ending in October 2013……unemployment rate decreased 1.6% points to 8.3% from 9.9% reported in the year prior.” (Source: Karnes Reports 3rd Quarter)</p><p>New Developments: </p><p> Recently announced new businesses are continuing through the permitting process: Walmart Express, Sheetz, McDonalds, and more.</p><p> A New 31 unit housing development is scheduled to be built off Middlebrook. It cleared the planning board is to be heard by Council.</p><p> The median along Lewisville-Clemmons Rd is finished and the round-a-bout at Peachaven and Harper is open.</p><p> The traffic signal at Lewisville-Clemmons Road is up and operating.</p><p> WalMart Express, second McDonalds and a Sheets are coming to Clemmons.</p><p> The Dairi-O is under construction.</p><p> 314 unit Parr apartments is under construction, schedule to begin leasing after the first of the year.</p><p> Office/Retail building leasing at Tanglewood Commons.</p><p> Pedestrian paths around Village Point Lake is underway ECON NOTES</p><p> The County held two input meetings about the new library. ECON NOTES</p><p>Market Status</p><p> Retail vacancy rate in Clemmons dropped from 17.7% to 14.4%</p><p> Retail vacancy rate in Lewisville dropped from 27.5% to 25.6%</p><p> Jobless rate continues to improve.</p><p>Residential Real Estate:</p><p>The Winston-Salem Regional Association of Realtors reports a ten month inventory of homes on the market. The average sales price of a home is up over 4%. National Association of Realtors predicts home prices are continuing to grow modestly in 2014 at a pace of 5 to 5.5%.</p><p>Commercial Real Estate:</p><p>Buildings Total sq. ft. Sq. ft. Vacant Vacancy Rate</p><p>Industrial 6 277,000 102,000 36.82%.</p><p>Office* 7 104,743 73,845 29.13%</p><p>Retail 7 324,393 75,626 14.4%</p><p>*62,000 sq. ft. of office proposed.</p>