economy

Countywide

Federal shutdown exposed economic instability faced by many in D.C. region, nonprofit says

By Scott McCaffrey
Fencing lines a street near the U.S. Capitol in D.C. (staff photo by Angela Woolsey)

In the wake of the country’s longest-ever federal government shutdown, a key safety-net organization is calling for a renewed emphasis on helping lower-income, working residents achieve economic independence across Fairfax County and the broader D.C. region.

While welcoming the shutdown’s end on Thursday (Nov. 13), United Way of the National Capital Area President and CEO Rosie Allen-Herring said at a briefing that morning that her organization believes “the impact will be felt, for thousands, for months ahead.”

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Countywide

Fairfax County’s housing market sees unusually healthy autumn market rebound

By Scott McCaffrey
Sign for a home under contract (staff photo by Angela Woolsey)

Fairfax County’s October home-sales market had its best showing since July, with total sales volume up 10% month over month and 12.8% year over year.

A total of 1,027 residential properties went to closing in October, according to figures reported Nov. 11 by Bright MLS, the region’s multiple-listing service. That’s up 6.6% from 963 sales in October 2024.

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News

As Fairfax home sellers trim prices, prospective buyers dip into the market

By Scott McCaffrey
A new house under construction in Vienna is up for sale (staff photo by Angela Woolsey)

Just under 10% of Fairfax home-sellers cut their asking prices last week, but more prospective buyers were on the hunt for homes in the county, according to new data.

Countywide, listing prices were reduced for a total of 9.9% of active listings during the week that ended last Sunday (Nov. 2), according to figures reported by Bright MLS, the region’s multiple-listing service.

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Countywide

N. Va. office vacancies hit lowest level since 2020, led by Reston and Herndon, report finds

By Scott McCaffrey
A for lease sign for the office building at 11487 Sunset Hills Road in Reston in June 2025 (staff photo by Angela Woolsey)

The Reston and Herndon business corridor was the standout for office leasing across Northern Virginia in the third quarter, according to new data.

While total leasing volume regionwide dipped 25.8% year-over-year, the Reston and Herndon area posted its best performance in three years and totaling about one-third of leasing activity in Northern Virginia as government contractors shrugged off economic challenges and looked toward higher defense spending, according to Savills Research & Data Services.

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Countywide

N. Va. business leaders grow more pessimistic about near-term future of local economy

By Scott McCaffrey
A flyer for FedSupport, a hub of resources for current and former federal workers, seen at a Northern Virginia job fair (staff photo by Angela Woolsey)

A quarterly survey of Northern Virginia business leaders shows an increasing level of concern about the near-term future of the region’s economy.

Just under half the 120 business leaders surveyed — 49% — foresee the economy declining either “slowly” or “significantly” over the next six months, according to results released yesterday (Thursday) by the Northern Virginia Chamber of Commerce and Pinkston for the fourth quarter of 2025.

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News

Tysons retail visits now exceeding pre-pandemic levels, report finds

By Angela Woolsey
People on the escalator in the east wing of Tysons Corner Center (staff photo by Angela Woolsey)

Retail activity was booming in Tysons for the first half of this year, surging past pre-pandemic levels, the Tysons Community Alliance (TCA) found in a recent report.

Released last month, the retail-focused market report for the second quarter of 2025 offered some positive economic news for Fairfax County at a time when the federal government shutdown and rising unemployment have kept the larger D.C. region on edge.

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News

Report: Reston-based company may lay off nearly 100 employees

By Jared Serre
Peraton has its headquarters at 1875 Explorer Street in Reston Town Center (staff photo by Angela Woolsey)

A Reston-based information technology company may lay off nearly 100 people by the end of this year.

Citing “uncertainty around the future of some contracts with federal agencies,” the contractor Peraton issued layoff notices to 92 employees earlier this month, the Washington Business Journal reported last week.

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Countywide

Lower interest rates helped more buyers into Fairfax homes market in September

By Scott McCaffrey
Sign for a home under contract (staff photo by Angela Woolsey)

Home sales and average sales prices across Fairfax County rose in September, as buyers cashed in on lower interest rates despite ongoing economic concerns.

A total of 953 properties went to closing for the month, up from 920 in September 2024, according to figures reported Friday (Oct. 10) by Bright MLS, using data from MarketStats by ShowingTime.

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Countywide

D.C. region leaders troubled by ‘elevated’ food insecurity levels found in report

By Scott McCaffrey
Food-pantry shelves (photo via Jacob McGowin/Unsplash)

More than one in four Fairfax County households meets the definition of “food-insecure,” and that figure is likely to rise in coming months as the full impacts of federal worker and funding cuts materialize.

“More challenging times are ahead,” Hilary Salmon, senior director of marketing and communications for Capital Area Food Bank, predicted when briefing board members of the Metropolitan Washington Council of Governments (COG) yesterday (Wednesday).

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Countywide

Report: N. Va. nonprofits face uncertain future amid economic challenges

By Acacia James
Girls on the Run of NOVA, a nonprofit based in Fairfax, received a $15,000 grant from the Community Foundation for Northern Virginia in 2025 (courtesy Girls on the Run of NOVA)

Nonprofits in Northern Virginia drive over $1.6 billion in economic activity, yet a new report warns that they face increasing threats from funding cuts, declining donations and growing demand.

Titled “The State of Nonprofits in Northern Virginia,” the Sept. 22 report from the Community Foundation for Northern Virginia’s research arm, Insight Region, says these risks could lead to program closures and reduced access to food, shelter, healthcare, and education.

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