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BTVAR Homes Sales Report – Q3 2023 Economic Conditions – Job growth continues in Virginia. There were approximately 6,700 jobs added in Virginia between July and August 2023. – The statewide unemployment rate in Virginia was 3.1% in August 2023 (not seasonally adjusted), which is down from 3.3% a year ago. In the BTVAR region,…

BTVAR Homes Sales Report – Q2 2023 Economic Conditions – Virginia’s job base continues to expand, which generates demand for housing. There were approximately 6,900 jobs added to Virginia’s economy between April and May 2023. – The statewide unemployment rate in Virginia was 2.7% in May 2023 (not seasonally adjusted), which is down from 2.9%…

BTVAR Homes Sales Report – Q1 2023 Economic Conditions -There were about 3,200 jobs added to Virginia’s economy between January and February 2023. Most regions around the Commonwealth have now fully recovered net jobs lost in the spring of 2020. – Virginia’s unemployment rate was 2.9% in February 2023 (not seasonally adjusted), which is up…

BTVAR Homes Sales Report – Q4 2022 Economic Conditions – Virginia’s job market slowed down recently. The state had about 2,200 fewer jobs in November, compared to October. Despite this dip, the overall job base in the state is now about 4,500 jobs above pre-pandemic levels, reflecting a robust job recovery over the last couple…

BTVAR Homes Sales Report – Q3 2022 Economic Conditions – Virginia’s job market continues to expand. The state added 16,700 jobs between July and August and is now only about 5,300 jobs short of pre-pandemic levels. Most of the growth continues to be in the Leisure and Hospitality sector. – The unemployment rate remains very…

BTVAR Homes Sales Report – Q2 2022 Economic Conditions – Virginia’s job market continues to recover from the pandemic-related losses. The state added 6,600 jobs between April and May and is now about 42,200 jobs short of pre-pandemic levels. Most of the growth this month was in the Leisure and Hospitality sector. – Despite growing…