Sales Tax Receipts, Homes Sold and Home Sale Prices Up

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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. 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

 

What’s Up

For the first three months of the fiscal year (July, August and September), sales tax receipts in Fairfax County are up a slight 0.5 percent.

The number of homes sold in Fairfax County in September increased 11 percent from a year ago and is up 10.7 percent year -to-date.

In September 2015, the average sales price of all homes sold in Fairfax County increased 3.3 percent compared to the average sales price in September 2014.

The number of active listings of homes for sale in the county increased 11 percent in September from a year ago.

 

What’s Down

The August unemployment rate in Fairfax County was 3.4 percent, down from 3.7 percent in July.

The number of single family building permits issued in the county for the first nine months of 2015 is down 2.2 percent.

Read Economic Indicators Report

 

Special Employment Report

The latest economic indicators includes a report on employment in Northern Virginia, with data provided by the U.S. Bureau of Labor Statistics, including:

  • New Jobs: Of the 33,200 new jobs created July 2014 to July 2015, almost a quarter were in the education and health services sector.
  • Jobs by Sector: Employment in the professional and business services sector was 387,500 in July, 27 percent of the total jobs in Northern Virginia.

Chart of employment categories in Northern Virginia.

 

Listen to More About County Economics

Listen to the County Conversation podcast on the Economic Indicators Report. Marcia Wilds from our budget office discusses the ins and outs of the report.

 


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