Jun 05, 2012
Virginia home prices — what’s the latest?
05 Jun 2012
Posted by Andrew Kantor
Speaking of that Clear Capital report, let’s look a little deeper to see what’s what here in the Old Dominion.
The nationwide data say that prices were up both quarter to quarter and year to year.
In the South (where Clear Capital puts us — others have us as “Mid-Atlantic” or “East”), prices rose about 1.2% quarter to quarter, but, more importantly, they rose by just under 1% year to year.
The company’s guess for the reason:
This appreciation in prices over last year was in part furnished by a stronger than typical winter home buying season, where mild weather got homebuyers out on the hunt and motivated earlier than usual.
But check this out: Three of the top 15 highest-performing areas are in Virginia.
|Rank||Region||Year to year||Qtr. to qtr.|
|4||Washington / Alexandria / Arlington||+7.5%||+5.1%|
|11||Virginia Beach / Norfolk / Newport News||+2.8%||+2.7%|
You can view the whole report right here (PDF) — it’s (as always) an interesting read.
And don’t forget VAR’s more-detailed (and more regional) monthly and quarterly Home Sales Reports!