Economic Indicators: Sales Tax Receipts Up, Special Report on Employment

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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; included is a special report on employment in Northern Virginia.

These monthly Economic Indicators serve as one of the tools used by our budget staff and the Board of Supervisors to make decisions on the county’s budget. The Fiscal Year 2017 Budget  became effective on July 1.

Read the Latest Report

 

What’s Unchanged

The August unemployment rate in the county remained unchanged at 3.2 percent. The number of unemployed residents increased slightly over the month from 19,839 to 19,895.

 

What’s Up

 Tax Receipts: For the first three months of our county fiscal year (July to September), sales tax receipts are up 1.1 percent.

Home Sales: The number of homes sold in Fairfax County in September increased 8.6 percent from a year earlier.

Building Permits: The number of single family building permits issued in the county for the first nine months of 2016 was up 6.6 percent.

 

What’s Down

Home Prices: In September, the average sales price of all homes sold in the county decreased 1.6 percent to $528,349 compared to the average sales price in September 2015, which was $537,126.

Home Listings: The number of active listings of homes for sale in the county in September was 3,625, a decrease of 18.1 percent from September 2015.

 

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