Press Releases

As we conclude 2011 and head into 2012, Virginia’s housing market will likely continue to stabilize, due to factors like low interest rates, rising residential rental rates, and an improving household balance sheet based on increases in household saving habits.

“We are encouraged by the overall numbers shown in the fourth quarter. The pace of home sales is picking up and without artificial stimulus proving that people are taking advantage of low interest rates and low home prices. This upcoming year is an optimistic one for real estate; one in which we hope to see stronger signs of recovery and stabilization,” said Virginia Association of REALTORS® President Trish Szego.

Highlights:

The 3^rd Quarter 2011 Virginia Home Sales Report has been released, with many indications that we may be starting to see some stability in many housing markets throughout the Commonwealth.

The annualized pace of home sales started to increase again in the 3^rd Quarter of 2011. This increase is the first such improvement in this long-term trend since late 2009 and early 2010 when the federal home buyer tax credit was helping to produce market improvements.

Year over year home sales in Virginia increased 8% in August 2010 to 7,779 units sold, as compared to only 7,210 sales in August 2010. This increase is a welcome sign in Virginia after recent declines in the pace of home sales.

With the current historically low mortgage interest rates combined with the slower pace of sales in 2010 Q4 as a result of the June 30, 2010 expiration of the tax credit, we are likely to continue to see year-over-year increases in the pace of home sales for the remainder of 2011.

It is important to note that one external factor that could affect Virginia’s housing market in coming months is if the current FHA loan limits are not extended by Congress by October 1, 2011.

Richmond, VA, July 21, 2011- Despite slower home sales during second quarter 2011, compared to second quarter of 2010, the housing market in Virginia may be ready to surge forward in the third and fourth quarters. Other good news is that we can see a clear increase in sales from first quarter 2011 to second quarter 2001. 

April 29, 2011 – Virginia residential home sales in the first quarter of 2011 have followed the general trend of the last several years with year-to-date sales 0.3% above last year.  January and February home sales in 2011 exceed the same month the prior year (by 2.5 % and 3.5%) according to the Virginia Association of REALTORS®’ Home Sales Report.  

For the complete Virginia Quarterly Home Sales Report for First Quarter 2011, please CLICK HERE.

Richmond, Feb. 10 – Mario Rubio, CIPS, SRES, broker/owner of Rubio Real Estate in Annandale, Va., was awarded the Virginia Housing Development Authority (VHDA) Realtor Service to Virginia Award for 2010 during the Virginia Association of REALTORS’ (VAR) annual awards banquet in Richmond.
 
The award recognizes the efforts of a Realtor who is dedicated to serving the multicultural home buying public in Virginia.
 

Total home sales in Virginia have slowed, with third quarter numbers showing a disappointing 22 percent decline over the same period last year, according to the Trends in Virginia's Housing Markets report published by the Virginia Association of REALTORS®. Statewide, sales are behind 2009 figures by six percent for the first nine months of the year.

Melanie Thompson, broker/owner of Century 21 AdVenture in Fredericksburg, VA received the 2010 "Realtor of the Year" award during the annual Convention of the Virginia Association of REALTORS® (VAR) in Virginia Beach, VA. 

The Virginia Property Management Coalition Conference will be held Wednesday, Nov. 17 through Friday, Nov. 19 at the Omni Hotel in Charlottesville.

Real estate attorney Grimes Creasy will present “10 Steps to a Successful Eviction” plus new amendments to the VRLTA, recent Virginia Supreme Court decisions, and foreclosure issues. 

Other topics include:

This week, mortgage rates went up for the first time in six weeks, with the 30-year mortgage rising 3 basis points this week, to 4.77 percent, according to a Bankrate.com national survey of large lenders. Virginia’s housing markets continue to show slow but steady growth, according to early indicators from various Multiple Listings Services and local Associations of Realtors in the state.

“Virginia is fortunate to have a relatively low unemployment rate, and strong regional economic development activity,” commented VAR President Cindy Stackhouse of Dumfries, VA, “both contributing to stronger home sales markets in our state.”