In another sign of potential stabilization of the housing market in Virginia, home sales rose 8.6% in February 2012 as compared to one year prior. This strong increase is after a 2.7% year-over-year increase in January 2012. Virginia’s unemployment rate of 5.8% in January is the lowest level seen since December 2008 and provides a strong climate for growth in the housing market.
Download the full February 2012 Virginia Home Sales Report below which also highlights:
- Monthly median sales prices only declined 0.9% in the past year.
- Monthly sales volume increased 8.4% between February 2011 and February 2012.
- Average days on market stayed level at 105 days in February 2012.