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BTVAR Homes Sales Report – Q3 2023

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,…

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BTVAR Homes Sales Report – Q2 2023

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%…

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BTVAR Homes Sales Report – Q1 2023

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…

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BTVAR Homes Sales Report – Q4 2022

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…

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BTVAR Homes Sales Report – Q3 2022

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…

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BTVAR Homes Sales Report – Q2 2022

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…

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BTVAR Homes Sales Report – Q1 2022

BTVAR Homes Sales Report – Q1 2022 Economic Conditions – Virginia’s economy continued to improve in early 2022, despite rising inflation and the escalating conflict overseas. Economic conditions are solid in the Bristol region, with a steady decline in the regional unemployment rate. – Even as the economy improves, consumer confidence is shaky. In March…

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BTVAR Homes Sales Report – Q4 2021

BTVAR Homes Sales Report – Q4 2021 Economic Conditions – Economic conditions in Virginia continued to improve in the fourth quarter, with broad-based job gains and another drop in the unemployment rate. The employment picture also improved in the Bristol region, with the unemployment rate falling to below pre-pandemic levels. – Despite steady economic progress,…

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BTVAR Homes Sales Report – Q3 2021

BTVAR Homes Sales Report – Q3 2021 Economic Conditions – In the third quarter of 2021, while economic conditions remained positive, there was a slowdown in job growth in Virginia. The unemployment picture has improved significantly in the Bristol area over the summer and into the early fall, and economic conditions should improve further over…

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