snapshot, may 2021

May 2021

S N A P S H O TA MONTHLY UPDATE OF THE FIFTH DISTRICT ECONOMY

May 2021 FEDERAL RESERVE BANK OF RICHMONDTABLE OF CONTENTS

Data updated as of April 30, 2021

TABLE OF CONTENTS

S N A P S H O T A MONTHLY UPDATE OF THE FIFTH DISTRICT ECONOMY

South Carolina 1South Carolina 2South Carolina 4South Carolina 5

Virginia 1Virginia 2Virginia 4Virginia 5

West Virginia 1West Virginia 2West Virginia 4West Virginia 5

Sources 1Sources 2

Fifth District SummaryLabor Conditions Business ConditionsHousehold ConditionsReal Estate Conditions

District of ColumbiaSummary Labor ConditionsHousehold Conditions Real Estate Conditions

Maryland Summary Labor ConditionsHousehold Conditions Real Estate Conditions

North CarolinaSummary Labor Conditions

District 1District 2 District 3 District 4 District 4

D.C. 1D.C. 2D.C. 4D.C. 5

Maryland 1Maryland 2Maryland 4Maryland 5

North Carolina 1North Carolina 2North Carolina 4

South CarolinaSummary Labor ConditionsHousehold Conditions Real Estate Conditions

Virginia Summary Labor ConditionsHousehold Conditions Real Estate Conditions

West Virginia Summary Labor ConditionsHousehold Conditions Real Estate Conditions

Sources & NotesData SourcesNotes

Contact InformationRoisin McCord(804) [email protected]

May 2021 FEDERAL RESERVE BANK OF RICHMONDFIFTH DISTRICTMay Summary A Closer Look at…Private Sector Jobs

FIFTH DISTRICT 1


Recent reports reflect growth in the Fifth District economy. Employment rose, and the unemployment rate decreased. Business conditions showed signs of improvement, and housing market indicators were positive.Labor Markets: Total payroll employment in the Fifth District increased by 38,100 jobs (0.3 percent), on net, in March. Jobs were added over the month in all sectors except information, which lost 1,300 jobs. The most jobs were added in professional and business services (10,000 jobs), followed by manufacturing (8,100 jobs).On a year-over-year basis, employment in the Fifth District was down by 599,700 jobs (4.0 percent), on net. Employment fell over the year in all sectors. The most jobs were lost in leisure and hospitality (267,700 jobs), which also saw the largest percentage decrease (16.7 percent).The Fifth District unemployment rate dropped 0.3 percentage point to 5.4 percent in March and was below the national rate of 6.0 percent. However, compared to a year ago, the Fifth District unemployment rate was up by 2.0 percentage points.Business Conditions: Our monthly survey of Fifth District businesses reflected improving conditions in both the manufacturing and service sectors in April.The manufacturing composite index held steady at 17 in April, indicating growth. All three component indexes—shipments, new orders, and employment—remained in expansionary territory.Our service sector survey indicated higher revenue and demand for many firms as the indexes rose from 16 and 25 in March to 22 and 32, respectively, in April. Housing Markets: Fifth District jurisdictions issued a combined 20,080 new residential permits in March, a 15.9 percent increase from February and a 30.6 percent increase year-over-year. Housing starts in the District totaled 207,100 at an annual rate in March, up 0.8 percent from February and up 21.2 percent from March 2020. According to the most recent data available from CoreLogic Information Solutions, Fifth District home values appreciated 0.8 percent in February and 9.8 percent on a year-over-year basis.

The BLS Business Employment Dynamics data includes information on job gains and job losses based on a quarterly census of administrative records. Job gains are attributed to establishments that had employment for the first time in the given quarter (openings) and those that had net increases in employment over the period (expansions). Similarly, job losses are attributed to establishments that reported zero employment in the quarter but had previously reported positive employment (closings) and those that had a net decrease in employment over the period (contractions).

The number of establishments in the Fifth District reporting job losses in 2020 Q3 was 178,447, including 40,399 closings. In the same period 234,934 establishments reported job gains, including 55,106 openings.

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JobsAdded

JobsLost

JobsAdded

JobsLost

JobsAdded

JobsLost

JobsAdded

JobsLost

Expansion Opening Contraction Closing

Q3:2020Q4:2019 Q1:2020 Q2:2020

Private Sector Job Gains and Losses in the Fifth DistrictSeasonally Adjusted, Thousands of Jobs

May 2021 FEDERAL RESERVE BANK OF RICHMONDFIFTH DISTRICTLabor Market Conditions Fifth District Payroll Employment Performance

Period Level (000s) MoM % Change YoY % Change Year-over-Year Percent Change in March 2021

United States - Total March 144,120.0 0.64 -4.46Fifth District - Total March 14,516.3 0.26 -3.97

Logging, Mining, and Construction March 796.3 0.73 -0.76Manufacturing March 1,098.4 0.74 -3.04Trade, Transportation, and Utilities March 2,549.4 0.02 -0.17Information March 221.7 -0.58 -5.78Financial Activities March 762.6 0.16 -2.26Professional and Business Services March 2,415.6 0.42 -0.21Education and Health Services March 2,083.7 0.09 -4.39Leisure and Hospitality March 1,331.7 0.53 -16.74Other Services March 607.7 0.50 -7.31Government March 2,649.2 0.08 -3.89

Fifth District Unemployment RateMarch 21 February 21 March 20 Through March 2021

United States 6.0 6.2 4.4Fifth District 5.4 5.7 3.4

Period Level (000s) MoM % Change YoY % ChangeUnited States March 160,558 0.22 -1.33Fifth District March 15,954 0.00 -1.77

Period Level MoM % Change YoY % ChangeUnited States March 4,200,330 18.12 -64.31Fifth District March 333,877 52.17 -65.39

FIFTH DISTRICT 2

Payroll Employment (SA)

Unemployment Rate (SA)

Civilian Labor Force (SA)

Initial Unemployment Claims (NSA)

S N A P S H O T

-4.0

-0.8

-3.0

-0.2

-5.8

-2.3

-0.2

-4.4

-16.7

-7.3

-3.9

-55 -50 -45 -40 -35 -30 -25 -20 -15 -10 -5 0

Fifth District - Total

Logging, Mining, and Construction

Manufacturing

Trade, Transportation, and Utilities

Information

Financial Activities

Professional and Business Services

Education and Health Services

Leisure and Hospitality

Other Services

Government

0

2

4

6

8

10

12

14

16

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

United StatesFifth District

A MONTHLY UPDATE OF THE FIFTH DISTRICT ECONOMY

May 2021 FEDERAL RESERVE BANK OF RICHMONDFIFTH DISTRICTBusiness Conditions Fifth District Business ActivityManufacturing Survey (SA) April 21 March 21 April 20 Diffusion Index, Seasonally Adjusted 3-MMA through April 2021

Composite Index 17 17 -54Shipments 16 22 -70New Orders 16 10 -62Number of Employees 19 22 -22Expected Shipments - Six Months 39 28 -10Prices Paid (Annual Percent Change) 7.11 6.15 1.89Prices Received (Annual Percent Change) 4.83 3.52 1.01

Service Sector Survey (SA) April 21 March 21 April 20Revenues 22 16 -86Demand 32 25 -71Number of Employees 12 10 -34Expected Demand - Six Months 57 52 -14Prices Paid (Annual Percent Change) 4.79 4.73 4.02 Norfolk Port District ExportsPrices Received (Annual Percent Change) 2.78 2.61 1.44 Year-over-Year Percent Change through March 2021

District Imports Period Level ($mil) MoM % Change YoY % ChangeBaltimore, Maryland March 4,245.60 54.5 16.3Wilmington, North Carolina March 586.56 14.3 25.9Charleston, South Carolina March 5,571.65 29.6 30.7Norfolk, Virginia March 4,542.21 27.3 22.1District Exports Period Level ($mil) MoM % Change YoY % ChangeBaltimore, Maryland March 1,892.58 68.7 37.4Wilmington, North Carolina March 469.93 57.5 -11.7Charleston, South Carolina March 2,730.31 12.3 -25.7Norfolk, Virginia March 2,772.01 11.8 4.2

FIFTH DISTRICT 3

S N A P S H O T

-40

-30

-20

-10

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40

50

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

-60

-50

-40

-30

-20

-10

0

10

20

30

40

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

Manufacturing Composite

Service Sector Revenues


May 2021 FEDERAL RESERVE BANK OF RICHMONDFIFTH DISTRICTHousehold Conditions Fifth District Real Personal IncomeReal Personal Income (SA) Period Level ($mil) QoQ % Change YoY % Change Year-over-Year Percent Change through Q4:20

United States Q4:20 17,426,388 -2.12 2.72Fifth District Q4:20 1,663,664 -1.23 2.79

Non-Business Bankruptcies Period Level QoQ % Change YoY % ChangeUnited States Q1:21 105,771 -1.52 -39.61Fifth District Q1:21 8,408 -1.5 -44.5

Real Estate Conditions

Permits: New Private Housing Units (N Period Level MoM % Change YoY % ChangeUnited States March 157,568 31.2 35.9 Fifth District New Housing UnitsFifth District March 20,080 15.9 30.6 Year-over-Year Percent Change through March 2021

Total Private Housing Starts (SAA Period Level (000s) MoM % Change YoY % ChangeUnited States March 1,739 19.4 37.0Fifth District March 207.1 0.8 21.2

House Price Index (2000=100) Period Level MoM % Change YoY % ChangeUnited States February 236 1.2 10.4Fifth District February 235 0.8 9.8

FIFTH DISTRICT 4


-4

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2

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12

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

United StatesFifth District

-60

-40

-20

0

20

40

60

80

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

May 2021 FEDERAL RESERVE BANK OF RICHMONDDISTRICT OF COLUMBIAMay Summary A Closer Look at…Private Sector Jobs

DISTRICT OF COLUMBIA 1

S N A P S H O T

A MONTHLY UPDATE OF THE FIFTH DISTRICT ECONOMYS N A P S H O T

The economy in the District of Columbia showed signs of growth in recent weeks. Jobswere added, and the unemployment rate fell. However, housing market indicatorssoftened.

Labor Markets:• Employment in the District of Columbia increased by 500 jobs (0.1 percent), on net,

in March. The most jobs were added over the month in leisure and hospitality (600jobs), while the most jobs were lost over the month in education and healthservices, and in trade, transportation, and utilities (200 jobs each).

• On a year-over-year basis, payroll employment in the District of Columbia wasdown by 66,400 jobs (8.3 percent), on net. Employment declined on a year-over-year basis in most industries. The most jobs were lost in leisure and hospitality(37,100 jobs), while the most were added in government (2,600 jobs).

• The unemployment rate in the District of Columbia fell 0.3 percentage point to 7.8percent in March but was up 2.6 percentage points on a year-over-year basis.

Housing Markets:• D.C. issued 589 new residential permits in March, down from the 749 issued in

February and down from the 687 permits issued in March 2020.• Housing starts in D.C. totaled 6,100 at an annual rate in March, down from 8,900

starts in February and up from 7,600 starts last March.• According to CoreLogic Information Solutions, home values in D.C. depreciated 0.2

percent in February but appreciated 4.0 percent since February 2020.



The number of establishments in the District of Columbia reporting job losses in 2020 Q3 was 6,511, including 1,597 closings. In the same period, 8,092 establishments reported job gains, including 2,376 openings.

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JobsLost

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JobsLost


Q3:2020Q4:2019 Q1:2020 Q2:2020

Private Sector Job Gains and Losses in the District of ColumbiaSeasonally Adjusted, Thousands of Jobs

May 2021 FEDERAL RESERVE BANK OF RICHMONDDISTRICT OF COLUMBIALabor Market Conditions District of Columbia Payroll Employment PerformancePayroll Employment (SA) Period Level (000s) MoM % Change YoY % Change Year-over-Year Percent Change in March 2021

United States - Total March 144,120.0 0.64 -4.46Fifth District - Total March 14,516.3 0.26 -3.97District of Columbia - Total March 731.9 0.07 -8.32

Logging, Mining, and Construction March 15.6 0.00 0.65Manufacturing (NSA) March 1.0 0.00 -16.67Trade, Transportation, and Utilities March 29.1 -0.68 -12.08Information March 19.2 0.52 -7.69Financial Activities March 28.0 0.00 -6.04Professional and Business Services March 165.0 0.00 -5.39Education and Health Services March 122.6 -0.16 -5.76Leisure and Hospitality March 40.1 1.52 -48.06Other Services March 70.4 0.14 -9.63Government March 240.9 0.04 1.09 District of Columbia Total Employment Performance

Washington, D.C. MSA March 3,147.8 0.73 -5.64 Year-over-Year Percent Change in March 2021


S N A P S H O T

-8.3

0.6

-16.7

-12.1

-7.7

-6.0

-5.4

-5.8

-48.1

-9.6

1.1

-60 -50 -40 -30 -20 -10 0 10

District of Columbia - Total


Manufacturing (NSA)


Information





Other Services

Government


-5.6

-8.3

-4.0

-4.5

-9.0 -8.0 -7.0 -6.0 -5.0 -4.0 -3.0 -2.0 -1.0 0.0

Washington, D.C. MSA

District of Columbia

Fifth District

United States

May 2021 FEDERAL RESERVE BANK OF RICHMONDDISTRICT OF COLUMBIALabor Market Conditions District of Columbia Unemployment RateUnemployment Rate (SA) March 21 February 21 March 20 Through March 2021

United States 6.0 6.2 4.4Fifth District 5.4 5.7 3.4District of Columbia 7.8 8.1 5.2Washington, D.C. MSA 5.8 5.9 3.4

Civilian Labor Force (SA) Period Level (000s) MoM % Change YoY % ChangeUnited States March 160,558 0.22 -1.33Fifth District March 15,954 0.00 -1.77District of Columbia March 407 -0.36 -3.25Washington, D.C. MSA March 3,325 0.24 -4.71

Initial Unemployment Claims (NSA) Period Level MoM % Change YoY % ChangeUnited States March 4,200,330 18.12 -64.31Fifth District March 333,877 52.17 -65.39 District of Columbia Labor ForceDistrict of Columbia March 9,758 74.81 -75.09 Year-over-Year Percent Change through March 2021



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2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

United StatesDistrict of Columbia

-6

-4

-2

0

2

4

6

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021


May 2021 FEDERAL RESERVE BANK OF RICHMONDDISTRICT OF COLUMBIAHousehold Conditions District of Columbia Real Personal IncomeReal Personal Income (SA) Period Level ($mil) QoQ % Change YoY % Change Year-over-Year Percent Change through Q4:20

United States Q4:20 17,426,388 -2.12 2.72Fifth District Q4:20 1,663,664 -1.23 2.79District of Columbia Q4:20 55,186 -2.05 2.63

Median Family Income Period Level (000s) QoQ % Change YoY % ChangeWashington, D.C. MSA Q4:20 110.3 0.00 -3.84

Non-Business Bankruptcies Period Level QoQ % Change YoY % ChangeUnited States Q1:21 105,771 -1.52 -39.61Fifth District Q1:21 8,408 -1.52 -44.45District of Columbia Q1:21 75 -11.76 -54.55

Mortgage Delinquencies (% 90+ Days Delinquent) Q4:20 Q3:20 Q4:19United States District of Columbia Mortgage Delinquencies

All Mortgages 4.47 4.57 0.98 Percent 90+ Days Delinquent through Q4:20

Conventional - Fixed Rate 3.07 3.30 0.65Conventional - Adjustable Rate 4.83 4.97 1.52

District of ColumbiaAll Mortgages 4.77 4.80 0.73Conventional - Fixed Rate 3.90 3.98 0.46Conventional - Adjustable Rate 4.68 4.45 1.32



-2

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6

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2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020


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1

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2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020


May 2021 FEDERAL RESERVE BANK OF RICHMONDDISTRICT OF COLUMBIAReal Estate Conditions Washington, D.C. MSA New Housing UnitsPermits: New Private Housing Units (NSA) Period Level MoM % Change YoY % Change Year-over-Year Percent Change through March 2021

United States March 157,568 31.20 35.94Fifth District March 20,080 15.90 30.60District of Columbia March 589 -21.36 -14.26Washington, D.C. MSA March 3,113 -10.55 51.34

Total Private Housing Starts (SAAR) Period Level (000s) MoM % Change YoY % ChangeUnited States March 1,739 19.35 37.04Fifth District March 207 0.79 21.18District of Columbia March 6.1 -31.64 -20.45

District of Columbia Housing StartsThousands of Units (SAAR) March 2021



-100

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2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

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2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

May 2021 FEDERAL RESERVE BANK OF RICHMONDDISTRICT OF COLUMBIAReal Estate Conditions District of Columbia House Price Index (CoreLogic)House Price Index (2000=100) Period Level MoM % Change YoY % Change Year-over-Year Percent Change through February 2021

United States February 236 1.22 10.43Fifth District February 235 0.85 9.79District of Columbia February 346 -0.20 4.04Washington, D.C. MSA February 274 1.52 9.64

Median Home Sales Price - NAR (NS Period Level ($000s) QoQ % Change YoY % ChangeWashington, D.C. MSA Q4:20 484 -1.67 10.91

Median Home Sales Price - NAHB Period Level ($000s) QoQ % Change YoY % ChangeWashington, D.C. MSA Q4:20 444 -1.33 12.12

Housing Opportunity Index (%) Q4:20 Q3:20 Q4:19Washington, D.C. MSA 65.4 63.6 70.1

Washington, D.C. MSA Office Vacancy RateCommercial Vacancy Rates (%) Q2:18 Q1:18 Q2:17 Through Q2:18

Office Vacancies Washington, D.C. MSA 15.0 15.3 15.6Industrial Vacancies Washington, D.C. MSA 9.3 9.7 10.4Retail Vacancies Washington, D.C. MSA 5.5 5.6 5.3



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2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

-20

-15

-10

-5

0

5

10

15

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021


May 2021 FEDERAL RESERVE BANK OF RICHMONDMARYLANDMay Summary A Closer Look at…Private Sector Jobs

MARYLAND 1


Growth in Maryland’s economy varied in recent weeks. Employment increased, and theunemployment rate held steady, but housing market indicators were somewhat softer.

Labor Markets:• Maryland employment increased by 13,100 jobs (0.5 percent), on net, in March.

Employment increased in most sectors. The most jobs were added in professionaland business services (3,200 jobs), followed by government (2,900 jobs). The mostjobs were lost over the month in trade, transportation, and utilities (700 jobs).

• Since March 2020, Maryland payroll employment decreased by 121,600 jobs (4.4percent), on net. Jobs were lost over the year in all sectors except professional andbusiness services, which added 700 jobs. The most jobs were lost in leisure andhospitality (51,800 jobs), followed by education and health services (21,600 jobs).

• The unemployment rate in Maryland held steady at 6.2 percent in March but was2.7 percentage points above its reading from March 2020.

Housing Markets:• Residential housing permits fell by 10.6 percent in Maryland from February to

March and were down 0.2 percent on a year-over-year basis.• Meanwhile, housing starts in Maryland fell 22.2 percent in March and were down

7.4 percent since March 2020.• According to CoreLogic Information Solutions, home values in Maryland

appreciated 1.3 percent in February and 10.3 percent since February 2020.


The number of establishments in Maryland reporting job losses in 2020 Q3 was 30,889, including 6,973 closings. In the same period 42,999 establishments reported job gains, including 9,846 openings.

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Q3:2020Q4:2019 Q1:2020 Q2:2020

Private Sector Job Gains and Losses in MarylandSeasonally Adjusted, Thousands of Jobs

May 2021 FEDERAL RESERVE BANK OF RICHMONDMARYLANDLabor Market Conditions Maryland Payroll Employment PerformancePayroll Employment (SA) Period Level (000s) MoM % Change YoY % Change Year-over-Year Percent Change in March 2021

United States - Total March 144,120.0 0.64 -4.46Fifth District - Total March 14,516.3 0.26 -3.97Maryland - Total March 2,628.1 0.50 -4.42

Logging, Mining, and Construction March 165.8 1.47 -1.01Manufacturing March 108.3 0.56 -3.65Trade, Transportation, and Utilities March 459.7 -0.15 -2.54Information March 30.7 -1.60 -13.76Financial Activities March 135.8 0.52 -3.96Professional and Business Services March 459.0 0.70 0.15Education and Health Services March 449.5 0.25 -4.59Leisure and Hospitality March 219.2 1.20 -19.11Other Services March 103.5 0.78 -7.51Government March 496.6 0.59 -2.40 Maryland Total Employment Performance

Year-over-Year Percent Change in March 2021Metro Payroll Employment (NSA) Period Level (000s) YoY % ChangeBaltimore-Towson MSA - Total March 1,343.0 -4.61California-Lexington Park MSA - Total March 47.6 -1.04Cumberland MSA - Total March 36.1 -5.00Hagerstown MSA - Total March 97.2 -5.91Salisbury MSA - Total March 154.7 -0.96Silver Spring-Frederick Metro Div. - Tota March 560.6 -5.40

MARYLAND 2

S N A P S H O T

-4.4

-1.0

-3.6

-2.5

-13.8

-4.0

0.2

-4.6

-19.1

-7.5

-2.4

-55 -50 -45 -40 -35 -30 -25 -20 -15 -10 -5 0 5

Maryland - Total


Manufacturing


Information





Other Services

Government


-5.4

-1.0

-5.9

-5.0

-1.0

-4.6

-4.4

-4.0

-4.5

-7 -6 -5 -4 -3 -2 -1 0

Silver Spring-Frederick Metro Div.

Salisbury MSA

Hagerstown MSA

Cumberland MSA

California-Lexington Park MSA

Baltimore-Towson MSA

Maryland (SA)

Fifth District (SA)

United States (SA)

May 2021 FEDERAL RESERVE BANK OF RICHMONDMARYLANDLabor Market Conditions Maryland Unemployment RateUnemployment Rate (SA) March 21 February 21 March 20 Through March 2021

United States 6.0 6.2 4.4Fifth District 5.4 5.7 3.4Maryland 6.2 6.2 3.5Baltimore-Towson MSA 5.8 5.8 3.4California-Lexington Park MSA 4.3 4.3 3.1Cumberland MSA 6.2 6.3 5.6Hagerstown MSA 4.9 5.1 3.7Salisbury MSA 6.1 6.2 5.4Silver Spring-Frederick Metro Div. 5.5 5.5 2.8

Civilian Labor Force (SA) Period Level (000s) MoM % Change YoY % ChangeUnited States March 160,558 0.22 -1.33Fifth District March 15,954 0.00 -1.77Maryland March 3,108 0.17 -5.77 Maryland Labor ForceBaltimore-Towson MSA March 1,454 0.22 -4.55 Year-over-Year Percent Change through March 2021

California-Lexington Park MSA March 56 0.18 -2.59Cumberland MSA March 42 0.00 -6.83Hagerstown MSA March 128 0.08 -5.75Salisbury MSA March 195 0.00 0.31Silver Spring-Frederick Metro Div. March 662 0.20 5.50

Initial Unemployment Claims (NSA) Period Level MoM % Change YoY % ChangeUnited States March 4,200,330 18.12 -64.31Fifth District March 333,877 52.17 -65.39Maryland March 114,277 33.56 -39.85

MARYLAND 3


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2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

United StatesMaryland

-10.0

-8.0

-6.0

-4.0

-2.0

0.0

2.0

4.0

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021


May 2021 FEDERAL RESERVE BANK OF RICHMONDMARYLANDHousehold Conditions Maryland Real Personal IncomeReal Personal Income (SA) Period Level ($mil) QoQ % Change YoY % Change Year-over-Year Percent Change through Q4:20

United States Q4:20 17,426,388 -2.12 2.72Fifth District Q4:20 1,663,664 -1.23 2.79Maryland Q4:20 366,993 -2.30 2.80

Median Family Income Period Level (000s) QoQ % Change YoY % ChangeBaltimore-Towson MSA Q4:20 96.6 0.00 -4.36Silver Spring-Frederick Metro Div. Q4:20 115.6 0.00 -6.47Cumberland MSA Q4:20 57.5 0.00 -3.04Hagerstown MSA Q4:20 67.8 0.00 -3.00Salisbury MSA Q4:20 62.7 0.00 -4.42

Non-Business Bankruptcies Period Level QoQ % Change YoY % ChangeUnited States Q1:21 105,771 -1.52 -39.61Fifth District Q1:21 8,408 -1.52 -44.45 Maryland Mortgage DelinquenciesMaryland Q1:21 1,923 -7.77 -52.64 Percent 90+ Days Delinquent through Q4:20

Mortgage Delinquencies (% 90+ Days Delinquent) Q4:20 Q3:20 Q4:19United States

All Mortgages 4.47 4.57 0.98Conventional - Fixed Rate 3.07 3.30 0.65Conventional - Adjustable Rate 4.83 4.97 1.52

MarylandAll Mortgages 5.74 5.93 1.26Conventional - Fixed Rate 3.93 4.17 0.90Conventional - Adjustable Rate 7.45 7.88 2.40

MARYLAND 4


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2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020


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2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020


May 2021 FEDERAL RESERVE BANK OF RICHMONDMARYLANDReal Estate Conditions Maryland New Housing UnitsPermits: New Private Housing Units (NSA) Period Level MoM % Change YoY % Change Year-over-Year Percent Change through March 2021

United States March 157,568 31.20 35.94Fifth District March 20,080 15.90 30.60Maryland March 1,601 -10.56 -0.19Baltimore-Towson MSA March 600 26.58 -40.06Cumberland MSA March 7 -66.67 ---Hagerstown MSA March 182 23.81 55.56Salisbury MSA March 543 0.93 57.85

Total Private Housing Starts (SAAR) Period Level (000s) MoM % Change YoY % ChangeUnited States March 1,739 19.35 37.04Fifth District March 207 0.79 21.18Maryland March 16.5 -22.20 -7.40

Maryland Housing StartsThousands of Units (SAAR) March 2021

MARYLAND 5


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2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

0

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2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

May 2021 FEDERAL RESERVE BANK OF RICHMONDMARYLANDReal Estate Conditions Maryland House Price Index (CoreLogic)House Price Index (2000=100) Period Level MoM % Change YoY % Change Year-over-Year Percent Change through February 2021

United States February 236 1.22 10.43Fifth District February 235 0.85 9.79Maryland February 233 1.26 10.30Baltimore-Towson MSA February 221 -0.26 7.82Cumberland MSA February 201 -2.30 8.42Hagerstown MSA February 214 0.07 8.74Salisbury MSA February 269 1.31 14.34

Median Home Sales Price - NAR (NS Period Level ($000s) QoQ % Change YoY % ChangeBaltimore-Towson MSA Q4:20 338 -1.17 14.93Cumberland MSA Q4:20 124 -0.40 19.29Hagerstown MSA Q4:20 225 0.58 16.44

Median Home Sales Price - NAHB Period Level ($000s) QoQ % Change YoY % Change Baltimore-Towson MSA Median Home Sales Price (NAR)Baltimore-Towson MSA Q4:20 320 -2.44 20.75 Year-over-Year Percent Change through Q4:20

Silver Spring-Frederick Metro Div. Q4:20 450 5.39 6.13Cumberland MSA Q4:20 124 4.20 39.33Hagerstown MSA Q4:20 220 -6.38 10.00Salisbury MSA Q4:20 260 6.12 20.93

MARYLAND 6


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2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021


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15

20

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

May 2021 FEDERAL RESERVE BANK OF RICHMONDMARYLANDReal Estate Conditions Baltimore-Towson MSA Office Vacancy RateHousing Opportunity Index (%) Q4:20 Q3:20 Q4:19 Through Q2:18

Baltimore-Towson MSA 75.1 73.0 80.0Silver Spring-Frederick Metro Div. 68.6 71.6 69.5Cumberland MSA 96.4 96.2 96.7Hagerstown MSA 83.7 76.4 78.4Salisbury MSA 65.9 69.8 73.6

Commercial Vacancy Rates (%) Q2:18 Q1:18 Q2:17Office Vacancies Baltimore-Towson MSA 13.0 12.9 12.8Retail Vacancies Baltimore-Towson MSA 5.6 5.7 5.6Industrial Vacancies Baltimore-Towson MSA 11.2 11.0 10.8

Suburban Maryland (Washington, D.C. MSA) --- --- --- Baltimore-Towson MSA Industrial Vacancy RateThrough Q2:18

MARYLAND 7


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17

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

10

11

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13

14

15

16

17

18

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

May 2021 FEDERAL RESERVE BANK OF RICHMONDNORTH CAROLINAMay Summary A Closer Look at…Private Sector Jobs

NORTH CAROLINA 1


North Carolina’s economy expanded recently. Jobs were added, the unemploymentrate fell, and housing market indicators were mostly positive.

Labor Markets:• Total payroll employment in North Carolina rose by 17,300 jobs (0.4 percent), on

net, in March. Jobs were added over the month in all industries. The most jobswere added in manufacturing (4,300 jobs), followed by leisure and hospitality(4,100 jobs).

• On a year-over-year basis, payroll employment in North Carolina was down by130,400 jobs (2.8 percent), on net. Jobs were lost over the year in most industries.The most jobs were lost in leisure and hospitality (65,500 jobs), while the mostwere added in professional and business services (15,600 jobs).

• The unemployment rate in North Carolina fell 0.5 percentage point to 5.2percent in March but was 1.3 percentage points above its reading in March 2020.

Housing Markets:• Residential permitting activity was up 10.5 percent in North Carolina from

February to March, and new permit levels were 28.9 percent above their March2020 levels.

• Meanwhile, housing starts in North Carolina were down 3.9 percent in March butstill up 19.6 percent over the year.

• According to CoreLogic Information Solutions, home values in North Carolinaappreciated 0.7 percent in February and 10.4 percent since February 2020.


The number of establishments in North Carolina reporting job losses in 2020 Q3 was 56,592, including 12,853 closings. In the same period 72,464 establishments reported job gains, including 17,426 openings.

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JobsLost

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JobsLost

JobsAdded

JobsLost

JobsAdded

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Q3:2020Q4:2019 Q1:2020 Q2:2020

Private Sector Job Gains and Losses in North CarolinaSeasonally Adjusted, Thousands of Jobs

May 2021 FEDERAL RESERVE BANK OF RICHMONDNORTH CAROLINALabor Market Conditions North Carolina Payroll Employment PerformancePayroll Employment (SA) Period Level (000s) MoM % Change YoY % Change Year-over-Year Percent Change in March 2021

United States - Total March 144,120.0 0.64 -4.46Fifth District - Total March 14,516.3 0.26 -3.97North Carolina - Total March 4,469.6 0.39 -2.83

Logging and Mining March 5.7 1.79 -1.72Construction March 233.7 0.13 -0.55Manufacturing March 461.3 0.94 -2.54Trade, Transportation, and Utilities March 870.0 0.13 1.69Information March 76.5 0.66 0.13Financial Activities March 258.0 0.27 0.04Professional and Business Services March 668.6 0.57 2.39Education and Health Services March 599.2 0.23 -4.92Leisure and Hospitality March 441.2 0.94 -12.93Other Services March 157.0 0.38 -6.66 North Carolina Total Employment PerformanceGovernment March 698.4 0.06 -5.37 Year-over-Year Percent Change in March 2021

Metro Payroll Employment (NSA) Period Level (000s) YoY % ChangeAsheville MSA - Total March 186.4 -5.24Charlotte MSA - Total March 1,208.3 -3.17Durham MSA - Total March 320.9 -2.70Fayetteville MSA - Total March 126.7 -4.09Greensboro-High Point MSA - Total March 345.9 -4.92Raleigh-Cary MSA - Total March 638.1 -2.33Wilmington MSA - Total March 129.6 -2.56Winston-Salem MSA - Total March 262.4 -3.35

NORTH CAROLINA 2

S N A P S H O T

-2.8-1.7

-0.6-2.5

1.70.10.0

2.4-4.9

-12.9-6.7

-5.4

-15 -10 -5 0 5

North Carolina - TotalLogging and Mining

ConstructionManufacturing

Trade, Transportation, and UtilitiesInformation

Financial ActivitiesProfessional and Business Services

Education and Health ServicesLeisure and Hospitality

Other ServicesGovernment


-3.4

-2.6

-2.3

-4.9

-4.1

-2.7

-3.2

-5.2

-2.8

-4.0

-4.5

-6 -5 -4 -3 -2 -1 0

Winston-Salem MSA

Wilmington MSA

Raleigh-Cary MSA

Greensboro-High Point MSA

Fayetteville MSA

Durham MSA

Charlotte MSA

Asheville MSA

North Carolina (SA)

Fifth District (SA)

United States (SA)

May 2021 FEDERAL RESERVE BANK OF RICHMONDNORTH CAROLINALabor Market Conditions North Carolina Unemployment RateUnemployment Rate (SA) March 21 February 21 March 20 Through March 2021

United States 6.0 6.2 4.4Fifth District 5.4 5.7 3.4North Carolina 5.2 5.7 3.9Asheville MSA 4.7 4.8 3.7Charlotte MSA 5.2 5.4 4.0Durham MSA 4.2 4.3 3.8Fayetteville MSA 7.1 7.2 5.8Greensboro-High Point MSA 5.8 5.9 4.7Raleigh-Cary MSA 4.3 4.4 3.9Wilmington MSA 4.5 4.6 4.2Winston-Salem MSA 5.1 5.1 4.3Civilian Labor Force (SA) Period Level (000s) MoM % Change YoY % ChangeUnited States March 160,558 0.22 -1.33Fifth District March 15,954 0.00 -1.77 North Carolina Labor ForceNorth Carolina March 5,017 -0.32 2.34 Year-over-Year Percent Change through March 2021

Asheville MSA March 229 0.09 -1.34Charlotte MSA March 1,358 0.29 0.88Durham MSA March 304 0.36 1.71Fayetteville MSA March 144 0.56 -0.41Greensboro-High Point MSA March 359 0.31 -1.18Raleigh-Cary MSA March 722 0.31 0.67Wilmington MSA March 151 0.27 1.00Winston-Salem MSA March 321 0.34 -0.77Initial Unemployment Claims (NSA) Period Level MoM % Change YoY % ChangeUnited States March 4,200,330 18.12 -64.31Fifth District March 333,877 52.17 -65.39North Carolina March 67,621 71.94 -79.64

NORTH CAROLINA 3


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2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

United StatesNorth Carolina

-8

-7

-6

-5

-4

-3

-2

-1

0

1

2

3

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021


May 2021 FEDERAL RESERVE BANK OF RICHMONDNORTH CAROLINAHousehold Conditions North Carolina Real Personal IncomeReal Personal Income (SA) Period Level ($mil) QoQ % Change YoY % Change Year-over-Year Percent Change through Q4:20

United States Q4:20 17,426,388 -2.12 2.72Fifth District Q4:20 1,663,664 -1.23 2.79North Carolina Q4:20 474,261 -0.35 3.37

Median Family Income Period Level (000s) QoQ % Change YoY % ChangeAsheville MSA Q4:20 67.4 0.00 1.51Charlotte MSA Q4:20 77.6 0.00 -1.77Durham MSA Q4:20 84.4 0.00 -0.47Fayetteville MSA Q4:20 53.9 0.00 -1.82Greensboro-High Point MSA Q4:20 61.9 0.00 0.98Raleigh-Cary MSA Q4:20 87.4 0.00 -6.12Winston-Salem MSA Q4:20 63.7 0.00 2.91

Non-Business Bankruptcies Period Level QoQ % Change YoY % Change North Carolina Mortgage DelinquenciesUnited States Q1:21 105,771 -1.52 -39.61 Percent 90+ Days Delinquent through Q4:20

Fifth District Q1:21 8,408 -1.52 -44.45North Carolina Q1:21 1,621 -3.91 -45.25



North Carolina - All MortgagesAll Mortgages 4.00 4.07 1.00Conventional - Fixed Rate 2.71 2.88 0.67Conventional - Adjustable Rate 4.22 4.36 1.45

NORTH CAROLINA 4


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2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020


0

1

1

2

2

3

3

4

4

5

5

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020


May 2021 FEDERAL RESERVE BANK OF RICHMONDNORTH CAROLINAReal Estate Conditions North Carolina New Housing UnitsPermits: New Private Housing Units (N Period Level MoM % Change YoY % Change Year-over-Year Percent Change through March 2021

United States March 157,568 31.20 35.94Fifth District March 20,080 15.90 30.60North Carolina March 8,638 10.55 28.94Asheville MSA March 323 24.23 50.93Charlotte MSA March 2,457 12.86 60.27Durham MSA March 674 42.19 56.74Fayetteville MSA March 171 47.41 2.40Greensboro-High Point MSA March 296 -29.52 16.08Greenville MSA March 156 358.82 321.62Hickory MSA March 11 25.00 ---Jacksonville MSA March 184 49.59 60.00Raleigh-Cary MSA March 2,462 -14.81 13.88Wilmington MSA March 163 -5.78 -5.23Winston-Salem MSA March 210 32.91 -24.73 North Carolina Housing Starts

Thousands of Units (SAAR) March 2021

Total Private Housing Starts (SAA Period Level (000s) MoM % Change YoY % ChangeUnited States March 1,739 19.35 37.04Fifth District March 207 0.79 21.18North Carolina March 89.1 -3.86 19.64

NORTH CAROLINA 5


-40

-20

0

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120

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

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60

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140

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

May 2021 FEDERAL RESERVE BANK OF RICHMONDNORTH CAROLINAReal Estate Conditions North Carolina House Price Index (CoreLogic)House Price Index (2000=100) Period Level MoM % Change YoY % Change Year-over-Year Percent Change through February 2021

United States February 236 1.22 10.43Fifth District February 235 0.85 9.79North Carolina February 190 0.71 10.45Asheville MSA February 261 1.25 11.77Charlotte MSA February 201 0.86 11.09Durham MSA February 198 1.60 9.74Fayetteville MSA February 145 0.71 9.78Greensboro-High Point MSA February 158 0.10 10.62Greenville MSA February 151 0.59 10.68Hickory MSA February 187 0.71 11.22Jacksonville MSA February 181 0.71 7.83Raleigh-Cary MSA February 183 1.05 9.29Wilmington MSA February 218 1.41 10.10Winston-Salem MSA February 179 1.95 11.84 Greensboro MSA Median Home Sales Price (NAR)

Median Home Sales Price - NAR (NS Period Level ($000s) QoQ % Change YoY % ChangeYear-over-Year Percent Change through Q4:20

Charlotte MSA Q4:20 312 0.74 20.70Durham MSA Q4:20 340 -0.38 17.04Greensboro-High Point MSA Q4:20 207 -0.48 17.32Raleigh-Cary MSA Q4:20 341 1.16 16.96

Median Home Sales Price - NAHB Period Level ($000s) QoQ % Change YoY % ChangeAsheville MSA Q4:20 325 5.52 12.07Charlotte MSA Q4:20 300 5.26 15.38Durham MSA Q4:20 299 2.75 7.55Fayetteville MSA Q4:20 165 3.13 21.32Greensboro-High Point MSA Q4:20 200 0.50 11.11Raleigh-Cary MSA Q4:20 342 2.40 6.88Winston-Salem MSA Q4:20 200 0.00 14.29

NORTH CAROLINA 6


-20

-15

-10

-5

0

5

10

15

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021


-15

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-5

0

5

10

15

20

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

May 2021 FEDERAL RESERVE BANK OF RICHMONDNORTH CAROLINAReal Estate Conditions Charlotte MSA Office Vacancy RateHousing Opportunity Index (%) Q4:20 Q3:20 Q4:19 Through Q2:18

Asheville MSA 54.6 57.1 56.3Charlotte MSA 69.2 70.4 70.8Durham MSA 73.2 73.7 73.4Fayetteville MSA 74.6 73.5 80.4Greensboro-High Point MSA 73.2 72.9 74.3Raleigh-Cary MSA 69.2 69.8 71.0Winston-Salem MSA 80.5 78.8 76.8

Commercial Vacancy Rates (%) Q2:18 Q1:18 Q2:17Office Vacancies

Raleigh/Durham 7.7 8.3 7.2Charlotte 11.1 11.2 10.2

Retail VacanciesRaleigh/Durham 4.4 4.9 4.9 Raleigh/Durham CSA Industrial Vacancy RateCharlotte 5.1 5.1 5.4 Through Q2:18

Industrial VacanciesRaleigh/Durham 7.0 7.1 7.0Charlotte 7.4 7.7 7.0

NORTH CAROLINA 7


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2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

4

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2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

May 2021 FEDERAL RESERVE BANK OF RICHMONDSOUTH CAROLINAMay Summary A Closer Look at…Private Sector Jobs

SOUTH CAROLINA 1


The economy in South Carolina strengthened in recent weeks. Employment increased,and the unemployment rate fell. Meanwhile, housing market indicators showed growth.

Labor Markets:• South Carolina’s economy added 4,700 jobs (0.2 percent), on net, in March.

Employment increased in most sectors. The most jobs were added inconstruction (1,800 jobs), and the most jobs were lost in education and healthservices (600 jobs).

• Since March 2020, total payroll employment was down by 66,600 jobs (3.0percent), on net. Jobs were lost over the year in most industries. The most jobswere lost over the year in leisure and hospitality (29,100 jobs), followed bygovernment (13,300 jobs).

• The unemployment rate in South Carolina decreased by 0.1 percentage point to5.1 percent in March but was 2.1 percentage points above its reading from March2020.

Housing Markets:• Residential permitting activity rose 23.9 percent in South Carolina from February

to March and was 28.4 percent above its year-ago level.• Meanwhile, housing starts in South Carolina rose 7.7 percent in March and were

up 19.2 percent from March 2020.• According to CoreLogic Information Solutions, home values in South Carolina

appreciated 0.8 percent in February and 9.1 percent over the year.


The number of establishments in South Carolina reporting job losses in 2020 Q3 was 26,807, including 5,493 closings. In the same period 32,272 establishments reported job gains, including 6,769 openings.

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Q3:2020Q4:2019 Q1:2020 Q2:2020

Private Sector Job Gains and Losses in South CarolinaSeasonally Adjusted, Thousands of Jobs

May 2021 FEDERAL RESERVE BANK OF RICHMONDSOUTH CAROLINALabor Market Conditions South Carolina Payroll Employment PerformancePayroll Employment (SA) Period Level (000s) MoM % Change YoY % Change Year-over-Year Percent Change in March 2021

United States - Total March 144,120.0 0.64 -4.46Fifth District - Total March 14,516.3 0.26 -3.97South Carolina - Total March 2,117.7 0.22 -3.05

Logging and Mining (NSA) March 4.5 0.00 2.27Construction March 107.6 1.70 0.94Manufacturing March 246.6 0.41 -3.86Trade, Transportation, and Utilities March 414.2 0.39 0.98Information March 24.8 -1.20 -4.25Financial Activities March 106.2 0.57 -0.93Professional and Business Services March 287.5 0.14 -1.13Education and Health Services March 251.4 -0.24 -3.53Leisure and Hospitality March 235.7 0.00 -10.99Other Services March 74.8 0.40 -6.03 South Carolina Total Employment PerformanceGovernment March 364.4 -0.03 -3.52 Year-over-Year Percent Change in March 2021

Metro Payroll Employment (NSA) Period Level (000s) YoY % ChangeCharleston MSA - Total March 359.1 -4.16Columbia MSA - Total March 387.6 -3.49Florence MSA - Total March 88.5 -3.38Greenville-Anderson MSA - Total March 415.7 -3.42Hilton Head Island MSA - Total March 81.8 -1.68Myrtle Beach MSA - Total March 165.1 -3.56Spartanburg MSA - Total March 162.5 -2.29Sumter MSA - Total March 38.0 -2.56

SOUTH CAROLINA 2

S N A P S H O T

-3.02.3

0.9-3.9

1.0-4.2

-0.9-1.1

-3.5-11.0

-6.0-3.5

-55 -50 -45 -40 -35 -30 -25 -20 -15 -10 -5 0 5 10

South Carolina - TotalLogging and Mining (NSA)







-2.6

-2.3

-3.6

-1.7

-3.4

-3.4

-3.5

-4.2

-3.0

-4.0

-4.5

-5.0 -4.5 -4.0 -3.5 -3.0 -2.5 -2.0 -1.5 -1.0 -0.5 0.0

Sumter MSA

Spartanburg MSA

Myrtle Beach MSA

Hilton Head Island MSA

Greenville-Anderson MSA

Florence MSA

Columbia MSA

Charleston MSA

South Carolina (SA)

Fifth District (SA)

United States (SA)

May 2021 FEDERAL RESERVE BANK OF RICHMONDSOUTH CAROLINALabor Market Conditions South Carolina Unemployment RateUnemployment Rate (SA) March 21 February 21 March 20 Through March 2021

United States 6.0 6.2 4.4Fifth District 5.4 5.7 3.4South Carolina 5.1 5.2 3.0Charleston MSA 4.6 4.6 2.3Columbia MSA 4.5 4.3 2.5Florence MSA 4.9 4.7 2.8Greenville-Anderson MSA 4.3 4.2 2.5Hilton Head Island MSA 3.9 3.8 2.4Myrtle Beach MSA 5.8 5.7 4.1Spartanburg MSA 4.8 4.7 2.6Sumter MSA 5.4 5.3 3.3Civilian Labor Force (SA) Period Level (000s) MoM % Change YoY % ChangeUnited States March 160,558 0.22 -1.33Fifth District March 15,954 0.00 -1.77 South Carolina Labor ForceSouth Carolina March 2,388 0.46 0.88 Year-over-Year Percent Change through March 2021

Charleston MSA March 395 0.20 0.05Columbia MSA March 403 0.22 -1.23Florence MSA March 97 0.21 -0.51Greenville-Anderson MSA March 433 0.51 -1.37Hilton Head Island MSA March 92 0.44 -1.51Myrtle Beach MSA March 201 0.35 -1.08Spartanburg MSA March 169 0.41 1.80Sumter MSA March 44 0.00 -1.58Initial Unemployment Claims (NSA) Period Level MoM % Change YoY % ChangeUnited States March 4,200,330 18.12 -64.31Fifth District March 333,877 52.17 -65.39South Carolina March 18,715 2.72 -86.68

SOUTH CAROLINA 3


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2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

United StatesSouth Carolina

-5

-4

-3

-2

-1

0

1

2

3

4

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021


May 2021 FEDERAL RESERVE BANK OF RICHMONDSOUTH CAROLINAHousehold Conditions South Carolina Real Personal IncomeReal Personal Income (SA) Period Level ($mil) QoQ % Change YoY % Change Year-over-Year Percent Change through Q4:20

United States Q4:20 17,426,388 -2.12 2.72Fifth District Q4:20 1,663,664 -1.23 2.79South Carolina Q4:20 220,395 -0.75 2.79

Median Family Income Period Level (000s) QoQ % Change YoY % ChangeCharleston MSA Q4:20 75.2 0.00 -3.47Columbia MSA Q4:20 67.4 0.00 -2.18Greenville MSA Q4:20 69.6 0.00 -2.93

Non-Business Bankruptcies Period Level QoQ % Change YoY % ChangeUnited States Q1:21 105,771 -1.52 -39.61Fifth District Q1:21 8,408 -1.52 -44.45South Carolina Q1:21 903 -4.55 -44.33

South Carolina Mortgage DelinquenciesMortgage Delinquencies (% 90+ Days Delinquent) Q4:20 Q3:20 Q4:19 Percent 90+ Days Delinquent through Q4:20

United States All Mortgages 4.47 4.57 0.98Conventional - Fixed Rate 3.07 3.30 0.65Conventional - Adjustable Rate 4.83 4.97 1.52

South CarolinaAll Mortgages 4.47 4.45 1.11Conventional - Fixed Rate 2.93 3.12 0.78Conventional - Adjustable Rate 4.44 4.50 1.46

SOUTH CAROLINA 4


-4

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2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020


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1

1

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2

3

3

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5

5

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020


May 2021 FEDERAL RESERVE BANK OF RICHMONDSOUTH CAROLINAReal Estate Conditions South Carolina New Housing UnitsPermits: New Private Housing Units (N Period Level MoM % Change YoY % Change Year-over-Year Percent Change through March 2021

United States March 157,568 31.20 35.94Fifth District March 20,080 15.90 30.60South Carolina March 4,444 23.86 28.44Charleston MSA March 821 41.31 18.99Columbia MSA March 655 49.20 67.52Florence MSA March 108 27.06 134.78Greenville MSA March 740 19.55 37.29Myrtle Beach MSA March 923 42.66 39.22Spartanburg MSA March 336 -43.05 28.74Sumter MSA March 32 146.15 10.34

Total Private Housing Starts (SAA Period Level (000s) MoM % Change YoY % ChangeUnited States March 1,739 19.35 37.04 South Carolina Housing StartsFifth District March 207 0.79 21.18 Thousands of Units (SAAR) March 2021

South Carolina March 45.8 7.73 19.19

SOUTH CAROLINA 5


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2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

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2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

May 2021 FEDERAL RESERVE BANK OF RICHMONDSOUTH CAROLINAReal Estate Conditions South Carolina House Price Index (CoreLogic)House Price Index (2000=100) Period Level MoM % Change YoY % Change Year-over-Year Percent Change through February 2021

United States February 236 1.22 10.43Fifth District February 235 0.85 9.79South Carolina February 203 0.84 9.11Charleston MSA February 254 0.34 8.56Columbia MSA February 165 0.40 9.02Florence MSA February 157 0.84 7.58Greenville MSA February 203 0.10 9.60Myrtle Beach MSA February 209 0.85 9.94Spartanburg MSA February 192 0.97 10.17Sumter MSA February 152 0.84 8.70

Median Home Sales Price - NAR (NS Period Level ($000s) QoQ % Change YoY % ChangeCharleston MSA Q4:20 339 0.65 16.32Columbia MSA Q4:20 213 1.19 12.99 Charleston MSA Median Home Sales Price (NAR)Greenville MSA Q4:20 252 2.35 12.94 Year-over-Year Percent Change through Q4:20

Spartanburg MSA Q4:20 215 1.03 15.13

Median Home Sales Price - NAHB Period Level ($000s) QoQ % Change YoY % ChangeCharleston MSA Q4:20 310 -3.13 11.91Columbia MSA Q4:20 192 2.13 11.63Greenville MSA Q4:20 240 2.13 8.11

SOUTH CAROLINA 6


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-5

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2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021


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2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

May 2021 FEDERAL RESERVE BANK OF RICHMONDSOUTH CAROLINAReal Estate Conditions Charleston MSA Office Vacancy RateHousing Opportunity Index (%) Q4:20 Q3:20 Q4:19 Through Q2:16

Charleston MSA 65.0 61.2 67.2Columbia MSA 83.7 82.5 76.2Greenville MSA 79.4 77.7 80.0


Charleston --- --- ---Industrial Vacancies

Charleston --- --- 8.6

Charleston MSA Industrial Vacancy RateThrough Q1:18

SOUTH CAROLINA 7


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2008 2009 2010 2011 2012 2013 2014 2015 2016

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2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

May 2021 FEDERAL RESERVE BANK OF RICHMONDVIRGINIAMay Summary A Closer Look at…Private Sector Jobs

VIRGINIA 1


Recent reports indicate growth in Virginia’s economy. Jobs were added, and theunemployment rate declined. Meanwhile, housing market indicators were positive.

Labor Markets:• Total payroll employment in Virginia increased by 800 jobs (0.0 percent), on net,

in March. The most jobs were added over the month in professional and businessservices (2,300 jobs), while the most were lost in trade, transportation, and utilities(2,200 jobs).

• Since March 2020, Virginia employment was down by 182,000 jobs (4.5 percent),on net. Jobs were lost over the year in all sectors. The most jobs were lost inleisure and hospitality (76,600 jobs), followed by government (36,800 jobs).

• The unemployment rate in Virginia fell by 0.1 percentage point to 5.1 percent inMarch but was up 2.5 percentage points on a year-over-year basis.

Housing Markets:• Residential permitting activity in Virginia rose 56.4 percent from February to

March and was up 65.7 percent on a year-over-year basis.• Meanwhile, housing starts in Virginia increased by 36.0 percent in March and

were 53.7 percent higher than March 2020.• According to CoreLogic Information Solutions, home values in Virginia

appreciated 0.8 percent in February and 9.3 percent since February 2020.


The number of establishments in Virginia reporting job losses in 2020 Q3 was 48,320, including 11,490 closings. In the same period 67,549 establishments reported job gains, including 16,267 openings.

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Q3:2020Q4:2019 Q1:2020 Q2:2020

Private Sector Job Gains and Losses in VirginiaSeasonally Adjusted, Thousands of Jobs

May 2021 FEDERAL RESERVE BANK OF RICHMONDVIRGINIALabor Market Conditions Virginia Payroll Employment PerformancePayroll Employment (SA) Period Level (000s) MoM % Change YoY % Change Year-over-Year Percent Change in March 2021

United States - Total March 144,120.0 0.64 -4.46Fifth District - Total March 14,516.3 0.26 -3.97Virginia - Total March 3,887.6 0.02 -4.47

Logging and Mining March 7.1 4.41 -6.58Construction March 206.3 0.29 -0.43Manufacturing March 236.7 0.85 -2.51Trade, Transportation, and Utilities March 653.4 -0.34 -0.77Information March 63.2 -1.86 -8.01Financial Activities March 206.1 -0.53 -3.74Professional and Business Services March 768.6 0.30 -0.90Education and Health Services March 532.5 -0.06 -3.98Leisure and Hospitality March 330.5 -0.39 -18.82Other Services March 181.0 0.95 -6.89 Virginia Total Employment PerformanceGovernment March 702.2 0.00 -4.98 Year-over-Year Percent Change in March 2021

Metro Payroll Employment (NSA) Period Level (000s) YoY % ChangeBlacksburg MSA - Total March 76.2 -3.30Charlottesville MSA - Total March 112.7 -6.78Lynchburg MSA - Total March 99.3 -5.52Northern Virginia - Total March 1,453.5 -4.35Richmond MSA - Total March 643.7 -5.89Roanoke MSA - Total March 155.9 -3.88Virginia Beach-Norfolk MSA - Total March 756.4 -4.48Winchester MSA - Total March 66.2 -0.75

VIRGINIA 2

S N A P S H O T

-4.5-6.6

-0.4-2.5

-0.8-8.0

-3.7-0.9

-4.0-18.8

-6.9-5.0

-50 -45 -40 -35 -30 -25 -20 -15 -10 -5 0

Virginia - TotalLogging and Mining







-0.7

-4.5

-3.9

-5.9

-4.3

-5.5

-6.8

-3.3

-4.5

-4.0

-4.5

-8 -7 -6 -5 -4 -3 -2 -1 0

Winchester MSA

Virginia Beach-Norfolk MSA

Roanoke MSA

Richmond MSA

Northern Virginia

Lynchburg MSA

Charlottesville MSA

Blacksburg MSA

Virginia (SA)

Fifth District (SA)

United States (SA)

May 2021 FEDERAL RESERVE BANK OF RICHMONDVIRGINIALabor Market Conditions Virginia Unemployment RateUnemployment Rate (SA) March 21 February 21 March 20 Through March 2021

United States 6.0 6.2 4.4Fifth District 5.4 5.7 3.4Virginia 5.1 5.2 2.6Blacksburg MSA 4.2 4.2 4.0Charlottesville MSA 4.6 4.6 3.0Lynchburg MSA 5.2 5.2 3.9Northern Virginia (NSA) 0.0 0.0 2.7Richmond MSA 5.7 5.8 3.5Roanoke MSA 5.0 5.1 3.5Virginia Beach-Norfolk MSA 5.9 6.0 3.7Winchester MSA 3.8 3.7 3.2Civilian Labor Force (SA) Period Level (000s) MoM % Change YoY % ChangeUnited States March 160,558 0.22 -1.33Fifth District March 15,954 0.00 -1.77 Virginia Labor ForceVirginia March 4,238 0.04 -4.70 Year-over-Year Percent Change through March 2021

Blacksburg MSA March 87 0.23 -4.40Charlottesville MSA March 114 0.44 -7.84Lynchburg MSA March 117 0.17 -6.55Northern Virginia (NSA) March 0 0.00 0.00Richmond MSA March 655 0.12 -5.02Roanoke MSA March 153 0.07 -3.78Virginia Beach-Norfolk MSA March 834 0.08 -3.53Winchester MSA March 73 0.27 -1.34Initial Unemployment Claims (NSA) Period Level MoM % Change YoY % ChangeUnited States March 4,200,330 18.12 -64.31Fifth District March 333,877 52.17 -65.39Virginia March 100,314 88.94 -57.47

VIRGINIA 3


2

4

6

8

10

12

14

16

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

United StatesVirginia

-6

-5

-4

-3

-2

-1

0

1

2

3

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021


May 2021 FEDERAL RESERVE BANK OF RICHMONDVIRGINIAHousehold Conditions Virginia Real Personal IncomeReal Personal Income (SA) Period Level ($mil) QoQ % Change YoY % Change Year-over-Year Percent Change through Q4:20

United States Q4:20 17,426,388 -2.12 2.72Fifth District Q4:20 1,663,664 -1.23 2.79Virginia Q4:20 476,814 -1.22 2.30

Median Family Income Period Level (000s) QoQ % Change YoY % ChangeRichmond MSA Q4:20 83.1 0.00 -3.82Roanoke MSA Q4:20 71.3 0.00 -2.46Virginia Beach-Norfolk MSA Q4:20 76.6 0.00 -3.40

Non-Business Bankruptcies Period Level QoQ % Change YoY % ChangeUnited States Q1:21 105,771 -1.52 -39.61Fifth District Q1:21 8,408 -1.52 -44.45Virginia Q1:21 3,430 3.84 -39.25

Virginia Mortgage DelinquenciesMortgage Delinquencies (% 90+ Days Delinquent) Q4:20 Q3:20 Q4:19 Percent 90+ Days Delinquent through Q4:20

United States All Mortgages 4.47 4.57 0.98Conventional - Fixed Rate 3.07 3.30 0.65Conventional - Adjustable Rate 4.83 4.97 1.52

VirginiaAll Mortgages 4.09 4.19 0.86Conventional - Fixed Rate 2.72 2.91 0.53Conventional - Adjustable Rate 5.23 5.37 1.39

VIRGINIA 4


-6

-4

-2

0

2

4

6

8

10

12

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020


0

1

1

2

2

3

3

4

4

5

5

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020


May 2021 FEDERAL RESERVE BANK OF RICHMONDVIRGINIAReal Estate Conditions Virginia New Housing UnitsPermits: New Private Housing Units (N Period Level MoM % Change YoY % Change Year-over-Year Percent Change through March 2021

United States March 157,568 31.20 35.94Fifth District March 20,080 15.90 30.60Virginia March 4,361 56.36 65.69Charlottesville MSA March 121 30.11 45.78Harrisonburg MSA March 55 -6.78 0.00Lynchburg MSA March 27 107.69 -18.18Richmond MSA March 1,240 122.62 122.62Virginia Beach-Norfolk MSA March 477 2.58 18.95Winchester MSA March 75 22.95 31.58

Total Private Housing Starts (SAA Period Level (000s) MoM % Change YoY % ChangeUnited States March 1,739 19.35 37.04 Virginia Housing StartsFifth District March 207 0.79 21.18 Thousands of Units (SAAR) March 2021

Virginia March 45.0 35.98 53.74

VIRGINIA 5


-60

-40

-20

0

20

40

60

80

100

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

0

10

20

30

40

50

60

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

May 2021 FEDERAL RESERVE BANK OF RICHMONDVIRGINIAReal Estate Conditions Virginia House Price Index (CoreLogic)House Price Index (2000=100) Period Level MoM % Change YoY % Change Year-over-Year Percent Change through February 2021

United States February 236 1.22 10.43Fifth District February 235 0.85 9.79Virginia February 252 0.78 9.35Blacksburg MSA February 200 1.51 11.02Charlottesville MSA February 219 3.00 7.04Danville MSA February 220 1.82 11.51Harrisonburg MSA February 278 0.72 12.10Lynchburg MSA February 194 0.01 9.60Richmond MSA February 215 0.47 10.29Roanoke MSA February 193 -0.57 9.18Virginia Beach-Norfolk MSA February 219 0.15 10.60Winchester MSA February 232 0.79 13.18

Median Home Sales Price - NAR (NS Period Level ($000s) QoQ % Change YoY % Change Virginia Beach-Norfolk MSA Median Home Sales Price (NAR)Richmond MSA Q4:20 318 0.89 16.91 Year-over-Year Percent Change through Q4:20

Virginia Beach-Norfolk MSA Q4:20 275 5.40 16.53

Median Home Sales Price - NAHB Period Level ($000s) QoQ % Change YoY % ChangeRichmond MSA Q4:20 290 0.00 12.40Virginia Beach-Norfolk MSA Q4:20 260 -3.70 13.04

VIRGINIA 6


-20

-15

-10

-5

0

5

10

15

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021


-15

-10

-5

0

5

10

15

20

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

May 2021 FEDERAL RESERVE BANK OF RICHMONDVIRGINIAReal Estate Conditions Richmond MSA Office Vacancy RateHousing Opportunity Index (%) Q4:20 Q3:20 Q4:19 Through Q2:18

Richmond MSA 77.0 76.5 78.5Roanoke MSA 79.5 83.2 86.1Virginia Beach-Norfolk MSA 76.6 74.0 80.8


Norfolk 9.6 10.1 11.3Richmond 8.2 9.2 9.9

Industrial VacanciesNorthern Virginia --- --- ---Richmond --- --- 7.1

Richmond MSA Industrial Vacancy RateThrough Q1:18

VIRGINIA 7


8

10

12

14

16

18

20

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

6

7

8

9

10

11

12

13

14

15

16

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

May 2021 FEDERAL RESERVE BANK OF RICHMONDWEST VIRGINIAMay Summary A Closer Look at…Private Sector Jobs

WEST VIRGINIA 1


Recent economic indicators pointed to economic growth in West Virginia. Employmentincreased, and the unemployment rate decreased. However, housing market indicatorswere mixed.

Labor Markets:• West Virginia payroll employment rose by 1,700 jobs (0.3 percent), on net, in

March. Employment increased over the month in most sectors. The most jobswere added over the month in leisure and hospitality (1,000 jobs), and the mostjobs were lost in government (1,300 jobs).

• On a year-over-year basis, West Virginia’s economy lost 32,700 jobs (4.6 percent),on net. Employment decreased over the year in all sectors. The most jobs werelost in government (7,900 jobs), followed by leisure and hospitality (7,600 jobs).

• The unemployment rate in West Virginia declined by 0.3 percentage point to 5.9percent in March but was 0.6 percentage point above its March 2020 reading.

Housing Markets:• West Virginia issued 447 residential permits in March, down from the 596 permits

issued in February but up from 294 in March 2020.• Meanwhile, housing starts in West Virginia totaled 4,600 at an annual rate in

March, down from 7,100 in February, but up from 3,300 in March 2020.• According to CoreLogic Information Solutions, home values in West Virginia

appreciated 0.6 percent in February and 10.8 percent over the year.


The number of establishments in West Virginia reporting job losses in 2020 Q3 was 9,328, including 1,993 closings. In the same period 11,558 establishments reported job gains, including 2,422 openings.

01020304050607080

JobsAdded

JobsLost

JobsAdded

JobsLost

JobsAdded

JobsLost

JobsAdded

JobsLost


Q3:2020Q4:2019 Q1:2020 Q2:2020

Private Sector Job Gains and Losses in West VirginiaSeasonally Adjusted, Thousands of Jobs

May 2021 FEDERAL RESERVE BANK OF RICHMONDWEST VIRGINIALabor Market Conditions West Virginia Payroll Employment PerformancePayroll Employment (SA) Period Level (000s) MoM % Change YoY % Change Year-over-Year Percent Change in March 2021

United States - Total March 144,120.0 0.64 -4.46Fifth District - Total March 14,516.3 0.26 -3.97West Virginia - Total March 681.4 0.25 -4.58

Logging and Mining March 19.2 1.05 -2.04Construction March 30.8 0.33 -7.23Manufacturing March 44.5 0.45 -4.51Trade, Transportation, and Utilities March 123.0 0.65 -1.44Information (NSA) March 7.3 1.39 -7.59Financial Activities March 28.5 1.06 -4.36Professional and Business Services March 66.9 0.45 -2.62Education and Health Services March 128.5 0.39 -3.17Leisure and Hospitality March 65.0 1.56 -10.47Other Services March 21.0 -2.33 -11.02 West Virginia Total Employment PerformanceGovernment March 146.7 -0.88 -5.11 Year-over-Year Percent Change in March 2021

Metro Payroll Employment (NSA) Period Level (000s) YoY % ChangeBeckley MSA - Total March 41.1 -5.08Charleston MSA - Total March 101.5 -5.58Huntington MSA - Total March 129.2 -3.58Morgantown MSA - Total March 68.1 -4.62Parkersburg MSA - Total March 35.1 -5.90

WEST VIRGINIA 2

S N A P S H O T

-4.6-2.0

-7.2-4.5

-1.4-7.6

-4.4-2.6-3.2

-10.5-11.0

-5.1

-60 -55 -50 -45 -40 -35 -30 -25 -20 -15 -10 -5 0

West Virginia - TotalLogging and Mining


Trade, Transportation, and UtilitiesInformation (NSA)Financial Activities

Professional and Business ServicesEducation and Health Services

Leisure and HospitalityOther Services

Government


-5.9

-4.6

-3.6

-5.6

-5.1

-4.6

-4.0

-4.5

-7 -6 -5 -4 -3 -2 -1 0

Parkersburg MSA

Morgantown MSA

Huntington MSA

Charleston MSA

Beckley MSA

West Virginia (SA)

Fifth District (SA)

United States (SA)

May 2021 FEDERAL RESERVE BANK OF RICHMONDWEST VIRGINIALabor Market Conditions West Virginia Unemployment RateUnemployment Rate (SA) March 21 February 21 March 20 Through March 2021

United States 6.0 6.2 4.4Fifth District 5.4 5.7 3.4West Virginia 5.9 6.2 5.3Beckley MSA 6.4 6.5 6.4Charleston MSA 6.3 6.5 5.9Huntington MSA 5.6 5.7 5.9Morgantown MSA 4.6 4.7 4.5Parkersburg MSA 6.3 6.2 6.5

Civilian Labor Force (SA) Period Level (000s) MoM % Change YoY % ChangeUnited States March 160,558 0.22 -1.33Fifth District March 15,954 0.00 -1.77West Virginia March 796 -0.05 -1.25Beckley MSA March 47 0.00 -3.33 West Virginia Labor ForceCharleston MSA March 93 -0.21 -2.21 Year-over-Year Percent Change through March 2021

Huntington MSA March 146 0.14 -1.89Morgantown MSA March 70 0.28 -2.09Parkersburg MSA March 39 -0.26 -4.93

Initial Unemployment Claims (NSA) Period Level MoM % Change YoY % ChangeUnited States March 4,200,330 18.12 -64.31Fifth District March 333,877 52.17 -65.39West Virginia March 23,192 31.59 -14.59

WEST VIRGINIA 3


2

4

6

8

10

12

14

16

18

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

United StatesWest Virginia

-5

-4

-3

-2

-1

0

1

2

3

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021


May 2021 FEDERAL RESERVE BANK OF RICHMONDWEST VIRGINIAHousehold Conditions West Virginia Real Personal IncomeReal Personal Income (SA) Period Level ($mil) QoQ % Change YoY % Change Year-over-Year Percent Change through Q4:20

United States Q4:20 17,426,388 -2.12 2.72Fifth District Q4:20 1,663,664 -1.23 2.79West Virginia Q4:20 70,014 -2.29 2.29

Non-Business Bankruptcies Period Level QoQ % Change YoY % ChangeUnited States Q1:21 105,771 -1.52 -39.61Fifth District Q1:21 8,408 -1.52 -44.45West Virginia Q1:21 456 5.56 -33.14


All Mortgages 4.47 4.57 0.98Conventional - Fixed Rate 3.07 3.30 0.65Conventional - Adjustable Rate 4.83 4.97 1.52 West Virginia Mortgage Delinquencies

West Virginia Percent 90+ Days Delinquent through Q4:20


WEST VIRGINIA 4


-4

-2

0

2

4

6

8

10

12

14

16

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020


0

1

1

2

2

3

3

4

4

5

5

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020


May 2021 FEDERAL RESERVE BANK OF RICHMONDWEST VIRGINIAReal Estate Conditions West Virginia New Housing UnitsPermits: New Private Housing Units (NSA) Period Level MoM % Change YoY % Change Year-over-Year Percent Change through March 2021

United States March 157,568 31.20 35.94Fifth District March 20,080 15.90 30.60West Virginia March 447 -25.00 52.56Charleston MSA March 25 27.78 27.78Huntington MSA March 21 23.53 23.53Morgantown MSA March 1 --- -95.45Parkersburg MSA March 27 800.00 575.00

Total Private Housing Starts (SAAR) Period Level (000s) MoM % Change YoY % ChangeUnited States March 1,739 19.35 37.04Fifth District March 207 0.79 21.18West Virginia March 4.6 -34.79 41.41

House Price Index (2000=100) Period Level MoM % Change YoY % Change West Virginia House Price Index (CoreLogic)United States February 236 1.22 10.43 Year-over-Year Percent Change through February 2021

Fifth District February 235 0.85 9.79West Virginia February 203 0.60 10.81Charleston MSA February 158 0.60 9.20Huntington MSA February 178 -0.31 3.37Morgantown MSA February 237 -0.76 4.16Parkersburg MSA February 171 1.52 4.77

Median Home Sales Price - NAR (NS Period Level ($000s) QoQ % Change YoY % ChangeCharleston MSA Q4:20 154 0.39 15.84

WEST VIRGINIA 5


-100

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50

100

150

200

250

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

-20

-15

-10

-5

0

5

10

15

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021


May 2021 FEDERAL RESERVE BANK OF RICHMONDSOURCES

Payroll Employment / Unemployment Median Family Income Commercial Vacancy RatesBureau of Labor Statistics National Association of Home Builders/Wells Fargo CB Richard EllisHaver Analytics Haver Analytics Haver Analyticshttp://www.bls.gov http://www.nahb.org http://www.cbre.com

Civilian Labor Force Bankruptcy Filings Median Home Sales Price - NARBureau of Labor Statistics Administrative Office of the U.S. Courts National Association of RealtorsHaver Analytics Haver Analytics Haver Analytics http://www.bls.gov http://www.uscourts.gov/library.html http://www.realtor.org

Unemployment Insurance Claims Mortgage Delinquencies Median Home Sales Price - NAHBU.S. Department of Labor Mortgage Bankers Association of America National Association of Home Builders/Wells FargoHaver Analytics Haver Analytics Haver Analyticshttp://www.dol.gov http://www.mortgagebankers.org http://www.nahb.org

District Imports / Exports Permits: New Private Housing Units Housing Opportunity IndexU.S. Census Bureau U.S. Census Bureau National Association of Home Builders/Wells FargoHaver Analytics Haver Analytics Haver Analyticshttp://www.census.gov http://www.census.gov http://www.nahb.org

Personal Income Private Housing Starts House Price IndexBureau of Economic Analysis MUFG Union Bank CoreLogic Information SolutionsHaver Analytics Haver Analytics Federal Reserve Bank of Richmondhttp://www.bea.gov http://www.bk.mufg.jp/english/index.html

SOURCES 1


May 2021 FEDERAL RESERVE BANK OF RICHMONDNOTES

1 Manufacturing & Service Sector Surveys 6 House Price Index

7 Median Home Sales Price - NAR2 Manufacturing Composite Index Single family homes.

8 Median Home Sales Price - NAHBTotal Home Sales.

3 Mortgage Delinquency Rate9 Personal Income

Bureau of Labor StatisticsHaver Analytics

4 New Private Housing Units & Housing Starts

5 Housing Opportunity Index

SA - Seasonally Adjusted NSA - Not Seasonally Adjusted SAAR - Seasonally Adjusted Annual Rate

SOURCES 2

Repeat sales index, measuring the average price changes in repeat sales on the same single family properties.

Each index equals the percentage of responding firms reporting increase minus the percentage reporting decrease. All firms surveyed are located within the Fifth Federal Reserve District.

The weighted average of the shipments (33 percent), new orders (40 percent) and employment (27 percent) indexes.

Data on District of Columbia building permits and housing starts are often volatile, leading to disproportionately large percentage changes.

Share of homes sold considered to be affordable to a family earning the area's median income.

The number of mortgages 90 days past due as a percentage of the total number of mortgages at the end of the period. The delinquency rate does not include loans in the process of foreclosure. "All Mortgages" includes conventional, FHA, and VA mortgages.


snapshot, may 2021

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