Economic Indicators: Homes Sold Up 21%, Sales Prices Up 2.6%

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There was some good news on the economic front this summer in the latest snapshot of our local economic climate.

Unchanged

* The unemployment rate in Fairfax County was unchanged at 4 percent in June. However, the number of unemployed residents increased slightly over the month from 25,247 to 25,464

* A 30-year fixed rate mortgage averaged 4.05 percent in July.

 

What’s Up

Sales tax receipts in Fairfax County were up 5.2 percent in August (after adjusting for a refund in last year’s receipts).

The number of homes sold in Fairfax County in July increased 21.6 percent from a year ago and are up 12 percent year-to-date.

In July, the average sales price of all homes sold in Fairfax County rose 2.6 percent compared to the average sales price in July 2014.

The number of active listings of homes for sale in the county increased 18.6 percent in July from a year ago.

 

What’s Down

 The national Consumer Confidence Index fell in July after increasing in June.

Read Latest Economic Indicators Report

 

The monthly Economic Indicators provides a snapshot of the economic climate and provides helpful information for county residents and businesses. It is also one of the tools used by our budget staff and the Board of Supervisors to make decisions on the county’s budgetWe encourage you to stay informed about these conditions that impact the county’s economy.


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