The latest report from the Anne Arundel Economic Development Corporation (AAEDC) provides valuable insights into the stability of Anne Arundel County’s economy, reflecting trends we’ve observed firsthand.
Labor Market: The labor market shows slight softening, which may reduce employee mobility and ease the pressure on employers to increase wages.
Residential Market: Year-over-year, residential sales have increased, signaling a positive trend. However, home prices remain elevated due to the ongoing supply-demand imbalance.
Commercial Real Estate: Vacancy rates have increased across most sectors, with retail being the exception. The local office market is performing well, outpacing regional and national averages. The industrial market is experiencing a slowdown in rent and value growth due to economic and capital market pressures. Retail vacancy rates are extremely low, driving significant rent increases for Class A properties.
Anne Arundel County continues to demonstrate stability, with less volatility compared to other high-velocity markets. The county is experiencing steady growth without the extreme fluctuations seen elsewhere.