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NoVa, Hampton Roads home sales fall in March
Home sales in Northern Virginia and Hampton Roads dropped year-over-year in March, a reversal from sales growth seen in February. Median sales prices, though, continued to rise. Northern Virginia Northern Virginia home sales in March dropped 13.8% from March 2023, a reversal from the year-over-year sales growth seen in February, according to data the Northern […]
Slow and steady
The Lynchburg region has seen the slowest job growth of any metro area in Virginia over the past three years, according to economic analyses, and it typically has a higher unemployment rate than the state average. But there’s more to the story, some officials say. For instance, the Lynchburg region saw 23 inquiries from economic […]
Fed’s Fifth District economy stays the course
Economic activity in the Federal Reserve’s Fifth District was little changed in recent weeks, according to the latest edition of the Federal Reserve’s Beige Book, released March 6. Published eight times per year, the Beige Book is based on anecdotal information about economic conditions gathered from the nation’s 12 Federal Reserve Banks. It is compiled from […]
How’s your confidence?
Business always has its up and downs. We’ve all been through more than a few. As au courant as the dot-com economy might seem, that bubble floated skyward decades ago, bursting in 2002. It wasn’t just a small dip. Between 1995 and its peak in March 2000, the tech stock-heavy Nasdaq index rose by 800%, […]
Financial Services: Signs of health
What’s that we hear? Is the economy growing healthier? It’s getting stronger for sure, Federal Reserve Bank of Richmond President and CEO Tom Barkin said in January during the 2024 Financial Forecast event co-hosted in Richmond by the Virginia Bankers Association and the Virginia Chamber of Commerce. Inflation was 3.4% in December 2023, inching closer […]
House of cards
Working as a mortgage lender in Roanoke for the past 18 years, Jason Bialek experienced everything from the financial crash of 2008 to the historic spike in home sales during the COVID-19 pandemic. Following that bonanza in 2020, though, Bialek and others in the residential real estate industry will probably look back at this period […]
Fed’s Fifth District economy sees mild expansion
Economic activity in the Federal Reserve’s Fifth District (a multistate region including Virginia, North Carolina, South Carolina, West Virginia and Maryland) expanded mildly in recent weeks, according to the latest edition of the Federal Reserve’s Beige Book, released Wednesday. Published eight times per year, the Beige Book is based on anecdotal information about economic conditions[...]
Economy healthy but more work is needed, Barkin says
The U.S. economy is showing signs of health, but bringing down inflation remains necessary, Federal Reserve Bank of Richmond President and CEO Tom Barkin said Thursday during the 2024 Financial Forecast event co-hosted in Richmond by the Virginia Bankers Association and the Virginia Chamber of Commerce. Economic conditions have improved but haven’t quite settled back to […]
Va.’s maritime industry has $8B economic impact, report says
Virginia’s non-military maritime industry was responsible for one in five jobs in Virginia and more than $8 billion in state and local taxes during fiscal 2022, according to a recent study conducted by William & Mary. The Virginia Maritime Association and the Virginia Port Authority commissioned the study to demonstrate the industry’s economic impact. The […]
Fed’s Fifth District economy grows slightly
The economy in the Federal Reserve’s Fifth District (a multistate region including Virginia, North Carolina, South Carolina, West Virginia and Maryland) grew slightly in recent weeks, according to the latest edition of the Federal Reserve’s Beige Book, released Wednesday. Published eight times per year, the Beige Book is based on anecdotal information about economic conditions [&hellip[...]
Federal shutdown could have deep impacts in Va.
In late 2018, the last time the federal government shut down for an extended period, Eric Ingram was furloughed from his job at the U.S. Federal Aviation Administration for six weeks. He used that time to co-found a startup focused on space safety, Scout Space. Launched in 2019, the Alexandria-based technology startup now has several […]
Fed Fifth District economy grows slightly
The economy in the Federal Reserve’s Fifth District (a multistate region including Virginia, North Carolina, South Carolina, West Virginia and Maryland) grew slightly in recent weeks, according to the latest edition of the Federal Reserve’s Beige Book, released Wednesday. Published eight times per year, the Beige Book is based on anecdotal information about economic conditions gathere[...]
