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NVAR’s 14th Annual Economic Summit The Outlook for the Washington Area Economy Stephen S. Fuller, PhD Director, Center for Regional Analysis School of Public Policy George Mason University September 16, 2010
Washington MSA Leading Economic Index Month-Over-Year Percent Change
15 Largest Job MarketsJob Change July 09 – July 10  (000s) Washington + 41,800 Source: BLS March 2010 Benchmark, GMU Center for Regional Analysis
Annual Job ChangeWashington MSA 000s  Annual Data                          Annual Month over Year                                   2008                        2009                  2010 Source: BLS March 2010 Benchmark, GMU Center for Regional Analysis
Annual Job ChangeNorthern Virginia 000s  Annual Data                          Annual Month over Year                                   2008                        2009                    2010 Source: BLS March 2010 Benchmark, GMU Center for Regional Analysis
Job Change by SectorDec 2007 – Dec 2009Washington MSA Total  - 79,300 (000s) Source: BLS March 2010 Benchmark, GMU Center for Regional Analysis
Job Change by SectorJuly 2009 – July 2010Washington MSA Total  41,200 (000s) Source: BLS March 2010 Benchmark, GMU Center for Regional Analysis
Job Change by SectorJuly 2009 – July 2010Northern Virginia Total  22,700 (000s) Source: BLS March 2010 Benchmark, GMU Center for Regional Analysis
Unemployment Rate % 9.7 6.3 5.2 U.S. Washington Northern Virginia Source: BLS, Not Seasonally Adjusted
15 Largest Job MarketsRanked by Unemployment RateJuly 2010 % US 9.7 6.3 Source: BLS, NOT Seasonally Adjusted
Housing Market Trends
Existing Home Sales Washington MSA Through August 2010 12-Month Moving Average Northern Virginia
Percent Change in Inventories of Existing HomesMonth-Over-the-Year-Change2000 – 2010, MSA % Jan-May, 2006 >100 % Aug =  - 0.3% Source: MRIS, GMU Center for Regional Analysis
Total Active Listings Per SaleAugust Each Year PG PW LDN DC MONT FFX ARL Source: MRIS, GMU Center for Regional Analysis
Average Sales Price Percent ChangeWashington MSAAll Housing Types % Annual Change Annual Change by Month                            2007                 2008               2009          2010 Source: MRIS, GMU Center for Regional Analysis
Average Sales Price Percent ChangeNorthern VirginiaAll Housing Types % Annual Change                     Annual Change by Month                           2007                2008                2009              2010   Source: MRIS, GMU Center for Regional Analysis
New Housing Contract Kick-Out Rate Washington Metro, All Housing Types %      2006                  2007                 2008                2009          2010 Source: Hanley Wood
Housing Sales, Actual and Forecast to Sept. 2011Metro Area
Housing Sales, Actual and Forecast to Sept. 2011Northern Virginia
Economic Forecast
Economic Outlook (GRP) – 2015Washington Area and Sub-state Portions(Annual % Change) % NV MSA SM DC Source: GMU Center for Regional Analysis
Employment Change bySub-state Region (000s) Average Annual Change 1990-2008 = 37,000 Source: BLS, GMU Center for Regional Analysis, 2009-2014 based on 2010 Benchmark data from BLS
GDP/GRP 2000 - 2015 % Washington U.S. Source: Global Insight, GMU Center for Regional Analysis
Policy-cra.gmu.edu

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Fuller presentation nvar economic summit

  • 1. NVAR’s 14th Annual Economic Summit The Outlook for the Washington Area Economy Stephen S. Fuller, PhD Director, Center for Regional Analysis School of Public Policy George Mason University September 16, 2010
  • 2. Washington MSA Leading Economic Index Month-Over-Year Percent Change
  • 3. 15 Largest Job MarketsJob Change July 09 – July 10 (000s) Washington + 41,800 Source: BLS March 2010 Benchmark, GMU Center for Regional Analysis
  • 4. Annual Job ChangeWashington MSA 000s Annual Data Annual Month over Year 2008 2009 2010 Source: BLS March 2010 Benchmark, GMU Center for Regional Analysis
  • 5. Annual Job ChangeNorthern Virginia 000s Annual Data Annual Month over Year 2008 2009 2010 Source: BLS March 2010 Benchmark, GMU Center for Regional Analysis
  • 6. Job Change by SectorDec 2007 – Dec 2009Washington MSA Total - 79,300 (000s) Source: BLS March 2010 Benchmark, GMU Center for Regional Analysis
  • 7. Job Change by SectorJuly 2009 – July 2010Washington MSA Total 41,200 (000s) Source: BLS March 2010 Benchmark, GMU Center for Regional Analysis
  • 8. Job Change by SectorJuly 2009 – July 2010Northern Virginia Total 22,700 (000s) Source: BLS March 2010 Benchmark, GMU Center for Regional Analysis
  • 9. Unemployment Rate % 9.7 6.3 5.2 U.S. Washington Northern Virginia Source: BLS, Not Seasonally Adjusted
  • 10. 15 Largest Job MarketsRanked by Unemployment RateJuly 2010 % US 9.7 6.3 Source: BLS, NOT Seasonally Adjusted
  • 12. Existing Home Sales Washington MSA Through August 2010 12-Month Moving Average Northern Virginia
  • 13. Percent Change in Inventories of Existing HomesMonth-Over-the-Year-Change2000 – 2010, MSA % Jan-May, 2006 >100 % Aug = - 0.3% Source: MRIS, GMU Center for Regional Analysis
  • 14. Total Active Listings Per SaleAugust Each Year PG PW LDN DC MONT FFX ARL Source: MRIS, GMU Center for Regional Analysis
  • 15. Average Sales Price Percent ChangeWashington MSAAll Housing Types % Annual Change Annual Change by Month 2007 2008 2009 2010 Source: MRIS, GMU Center for Regional Analysis
  • 16. Average Sales Price Percent ChangeNorthern VirginiaAll Housing Types % Annual Change Annual Change by Month 2007 2008 2009 2010 Source: MRIS, GMU Center for Regional Analysis
  • 17. New Housing Contract Kick-Out Rate Washington Metro, All Housing Types % 2006 2007 2008 2009 2010 Source: Hanley Wood
  • 18. Housing Sales, Actual and Forecast to Sept. 2011Metro Area
  • 19. Housing Sales, Actual and Forecast to Sept. 2011Northern Virginia
  • 21. Economic Outlook (GRP) – 2015Washington Area and Sub-state Portions(Annual % Change) % NV MSA SM DC Source: GMU Center for Regional Analysis
  • 22. Employment Change bySub-state Region (000s) Average Annual Change 1990-2008 = 37,000 Source: BLS, GMU Center for Regional Analysis, 2009-2014 based on 2010 Benchmark data from BLS
  • 23. GDP/GRP 2000 - 2015 % Washington U.S. Source: Global Insight, GMU Center for Regional Analysis