Economic Indicators: A Mixed Bag of Ups and Downs

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The latest economic indicators report is out and you can see what’s up and what’s down in our local economy. This month, it’s a mixed bag of economic news.

These monthly reports also serve as one of the tools used by our budget staff and the Board of Supervisors to make decisions on the county’s budget. On Tuesday, Feb. 16, the county executive will present his proposed budget for the upcoming FY 2017 budget (effective July 1, 2016).

 

What’s Up

For the first half of FY 2016 (July 2015 to Jan. 2016), sales tax receipts were up 2.7 percent.

14,850 homes were sold in 2015, a 9.6 percent increase over 2014.

The average sales price of all homes sold in 2015 increased 1.1 percent compared to the average sales price in 2014.

 

What’s Down

In 2015, it took seven days longer, on average, to sell a home in Fairfax County compared to 2014.

The number of single family building permits issued in 2015 decreased 2.2 percent from last year.

Read the Latest Economic Indicators Report

 

More Economic News


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