August Highlights
- Unemployment increased slightly In July to 5.6% but still well below Maryland’s rate of 6.5% and the U.S. average of 6.2%.
- It is also still lower than it was at this time last year when it was 5.8%.
- The residential housing market seems to be very active with an 11.5% increase in number of houses sold compared to last year at this time.
- There are also 40% more homes on the market selling for 4% more than this time last year.
- The commercial and industrial market saw the highest dollar value in 3 years at this time with $14-1/2 million in construction costs for August.
- Our overall commercial vacancy rate of 12.2% is lower than the 5-year average of 15%.
- The most noticeable decrease in vacancy for the flex market (4-1/2 percent lower than the 5 year average 14.5% versus 5 year avg of 20%).
To download a PDF, please click
here.
