Home sales during January 2012 showed a marked improvement over last January (+2.7%) and January 2010 (+6.1%). This market improvement, is an early indicator that Virginia’s housing market may continue to gather strength during 2012. Low mortgage interest rates (3.98%) and relatively low unemployment levels (6.2%) are certainly helping housing markets around the Commonwealth to remain stable and show some regional improvements.
Download the full January 2012 Virginia Home Sales Report below as a PDF which also highlights:
- Monthly median sales prices only declined 1% in the past year.
- Monthly sales volume increased 0.7% between January 2011 and January 2012.
- Average days on market increased to 102 days in January 2012.