The Center for Regional Analysis has partnered with the Northern Virginia Association of Realtors® to provide economic and housing market data for the NVAR region. This landing page covers up-to-date information on area housing markets and emerging economic trends as Northern Virginia navigates the effects of the Covid-19 pandemic. The market activity charts below will be updated daily during the work week. Other data and important information will be updated as it becomes available.
Regional Housing Data for June 3rd, 2020:
New Active Listings: 71
New Pending Residential Sales: 51
For more information on housing in our region, visit Bright MLS to access their latest report.
Weekly Initial Unemployment Claims:
Virginia: In the week ending May 30th, the advance figure for non-seasonally adjusted initial claims was 32,202, a decrease of 7,040 from the previous week’s level of 39,242.
The chart below shows the comparison of recent initial claims in Virginia to the worst 10 weeks during the great recession (December 2008 – February 2009). We will continue to update the current trends as data is released.
To see the official release from the Department of Labor, click here.
Northern Virginia Economic and Housing Market Overview
A housing market presentation by Dr. Clower on April 30, 2020 with regions: BRAR, DAAR, FAAR, GPAR, NVAR, PWAR, and the DC MSA.
Chmura: The Economic Vulnerability Index
The Vulnerability Index is a measurement of the negative impact that the coronavirus crisis can have on employment based upon a region’s mix of industries.
Pandemic Economic Risk Tool for Australian Cities
An analysis by Dr. Terry Clower
WARN Notices: Virginia, District of Columbia, Maryland
The Worker Adjustment and Retraining Notification Act (WARN) of 1988 is a US labor law which protects employees by requiring most employers with 100 or more employees to provide 60 calendar-day advance notification of plant closings and mass layoffs of employees.
Department of Labor: Unemployment Weekly Insurance Claims
Video Series: COVID-19 Economic and Market Impacts
Below is an introduction video to our partnership with NVAR.
You can also visit CRA’s YouTube page for continuous bite-sized updates as the market changes during this time. You can also find our most recent series on the market impacts of COVID-19 in the sidebar.