Market Report

Blacksburg-Christiansburg-Radford, VA

Short-term forecast

Underperform

House price changes in the Blacksburg-Christiansburg-Radford, VA metro market are forecasted to underperform the national market in the short term. The market ranks 303 among 402 US metro markets for housing market vitality and performance is anticipated to remain unchanged. The ranking is based on the local housing market’s current underperforming of the national trend and the prevailing local conditions that support a short-term neutral outlook.

MARKET RANK
Mar 2019 Mar 2018
303 / 402 303 / 402
SITUATION
Mar 2019 Mar 2018
Underperforming Underperforming
OUTLOOK
Mar 2019 Mar 2018
Neutral Neutral

Trailing 12-month Performance

Over the last twelve months, local housing market vitality has moderated. Performance Index values greater than 100 correspond to an improvement; values between 80 and 100 correspond to a moderation; and values less than 80 correspond to a deterioration over the trailing twelve month period. Market performance was dragged down by the job market and moderated by the local economy. Performance was boosted by new construction and the national macroeconomic environment.

Industry Composition

Accounting for 59% of the local business economy, the top three industry sectors are: Trade Trans Util, Manufacturing, and Edu Health svcs. These industry sectors create the jobs and earnings that power the local economy. Longer-term trends that impact these sectors will have an enduring effect on the local economy.

Industry Specialization

The local economy is specialized in: Manufacturing, Construction, and Leisure Hosp. Mining, Pro Bus svcs, and Information industry sectors are less important to the local economy. Industry specialization gauges the relative importance of an industry sector to the local economy. A Specialization Index value greater than 100 corresponds to the sector having a greater share of the local economy than it does of the national economy. Sectors with a Specialization Index greater than 120 characterize the local economy. Industry specialization helps explain the differing impact of industry trends on local economies.

Market Demographics

Compared to the US, Blacksburg-Christiansburg-Radford, VA metro market has a higher incidence of poverty and the local population has less purchasing power. There are more high school graduates and a larger proportion of the population is college educated. Lastly, the local population is less diverse than the overall US population. A Demographics Index value greater than 100 corresponds to the factor being more intense in the local market versus the national average. Characteristics of the local population is a longer-term factor that influences the housing market.