Public transportation viability and accessibility are vital to the regional economy, especially in the Washington Region where we currently hold the second longest commute time in the nation. The Washington Metropolitan Area Transit Authority is facing several challenges due to funding, administration, and performance issues, especially with its Metrorail system. As the system continues in a period of line closures (safe-tracking), rate hikes, and funding issues, we at CRA are keeping a close eye on Metro related […]
March Regional Housing Update – Price Gains and Increased Sales
The housing market in the Washington metro area continues to tighten as median sales price is highest March level of the decade, sales and pending sales are at decade highs, and inventory levels decline for the eleventh month in a row March 2017’s median sales price of $420,00 was up 5.3% or $21,000 compared to last year. This is the highest March median sales price of the last decade, easily topping the prior high of $400,000 seen […]
National Unemployment Lowest in 10 Years, Employment up Slightly
National employment situation numbers released this morning show payroll employment increasing by only 98,000 and the unemployment rate decreasing 0.2 percentage points to 4.5 percent. The professional and business services sector saw the largest growth at an additional 56,000 jobs and for the second straight month, retail trade lost nearly 30,000. Total employment is up 2.18 million from March 2016. The relatively small jobs growth could be due to large February jobs numbers, boosted by unseasonably good weather […]
Washington Area Job Growth Remains Stable
New metropolitan area employment and unemployment numbers released today show continued job growth for the Washington region with 18,300 jobs added in February. This is an increase of 62,400 jobs over February 2016, with the sectors of Professional & Business Services and Leisure & Hospitality leading the pack. The unemployment rate remains constant at 3.9 percent, below the nation rate of 4.7. Between February 2016 and February 2017, Suburban Maryland saw its largest job growth since 2000, […]
Middle-skill jobs in the Greater Washington Region
New report shines a light on a set of middle-skill jobs in our region and shows pathways for individuals who do not hold a college degree.Read MoreFull Report.
2016 Population Estimates Released
The US Census Bureau released the 2016 Population County and Metro/Micro Area Population Estimates. Between 2015 and 2016, the Washington-Arlington-Alexandria, DC-VA-MD-WV Metropolitan Statistical Area (Henceforth, the Washington Metro Area), increased its population by 53,508 between July 1, 2015 and July 1, 2016.[1] This represents an increase of 0.9 percent, and continues the trend of slowing regional population growth; the region grew 1.1 percent between 2013 and 2014, and 1.0 percent between 2014 and 2015. Figure […]
Trump Budget Could Undercut Metro Ridership Recovery
From WAMU President Donald Trump’s initial budget proposal does not explicitly attack funding for the D.C. region’s transit agency, but if the plan’s aim of shrinking the federal workforce is realized, Metro could be damaged at a time when it needs every possible rider. Metro’s average weekday ridership is at its lowest level since 2003. System leaders are anticipating that some commuters will return in the summer after the disruptive SafeTrack rebuilding program ends and reliability […]