The latest Economic Indicators report is out and you can see what’s up and what’s down in our local economy. A highlight in this month’s report is that the April unemployment rate was at 2.6 percent, a decrease of 0.7 from March and the lowest since September 2008.
▲ Jobs: The April unemployment rate in Fairfax County was 2.6 percent. The number of unemployed residents decreased over the month from 20,305 to 16,333.
▲ Tax Revenue: For the first 11 months of FY 2016 (July 2015 to May 2016), sales tax receipts in our county were up 2 percent.
▲ Homes Sold: In May, 1,683 homes were sold in Fairfax County, an increase of 10.2 percent over the 1,527 homes sold in May 2015.
▼ Home Sales Prices: The average sales price of all homes sold in the county in May was $548,909, a decrease of 2.6 percent compared with the May 2015 average sales price of $563,267.
▼ Home Listings: The number of active listings of homes for sale in the county decreased 8.9 percent in May from a year ago.