by drose
3. May 2012 16:36
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During the past 12 months 18,391 homes have sold, a 5.9% increase from the previous 12 month period.
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In March 1,564 homes sold, a 24% increase from February's total, and a 19% increase year over year.
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There are currently 2,511 residential properties that are under contract but have yet to close.
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There are currently 11,555 homes for sale, which is 18.5% lower than the same time last year .
There have been many positive stories in the media about both national and regional real estate:
*America's greatest investor is bullish on U.S. Housing
Appearing live on CNBC Warren Buffett said he'd buy up "a couple hundred thousand" single family homes if it were practical to do so." 2/27/12
*Lending Tree study ranks Virginia's housing market as one of the 10 healthiest in the country.
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There is a housing inventory of 8.6 months, which is a slight uptick over previous month's levels.
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Because the calculation method for these absorption rates uses sales from the previous
six months there is a seasonal element with inventory levels increasing over the winter months.
However, inventory levels are much lower than the 12.6 reading at the same time last year.
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* all information on sold properties is accurate at time of publication but subject to increase as sales are recorded.
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*Market Data courtesy of REIN, deemed accurate but not guaranteed. Copyright 2012 All Rights Reserved
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