An attempt at a positive spin on home-sales numbers

Home sales are down, sale prices are down, but as with everything else in life, it’s all relative.
“It’s been a rocky year for real-estate sales across the nation and to some extent across Virginia, although I would say Virginia has fared better than everybody else,” said John McClain, a senior fellow at the George Mason University Center for Regional Analysis, on a conference call this morning to discuss the latest Virginia real-estate numbers.

Sales were down statewide by more than 5 percent in the fourth quarter of 2008 compared to the same period of time a year ago, according to data from the Virginia Association of Realtors.

Double-digit declines in sales activity were reported in the Harrisonburg-Rockingham and Lexington-Buena Vista markets locally. Prince William County was on the flip side, to say the least, reporting a 148 percent spike in the quarter over activity in the fourth quarter of 2007.

Those numbers are more in line with a bubble of activity nationwide in December. A report released today by the National Association of Reatlors had existing home sales up 6.5 percent over November sales.

That’s the good news in the NAR report. The slightly bad – sales were down 3.5 percent from December 2007.

And then here’s the really bad – there were 4.9 million homes sold nationwide in 2008, the lowest volume since 1997 and off 13.1 percent from 2007.

 

– Story by Chris Graham

UVA Basketball Fans!

uva basketball team of destiny
Team of Destiny: Inside Virginia Basketball’s Run to the 2019 National Championship, by Jerry Ratcliffe and Chris Graham, is available for $25. The book, with additional reporting by Zach Pereles, Scott Ratcliffe, and Scott German, will take you from the aftermath of the stunning first-round loss to UMBC in 2018 through to the thrilling overtime win over Texas Tech to win the 2019 national title, the first in school history.

Dick Vitale on Team of Destiny: “This is a hoops story you will LOVE! Jerry and Chris capture the sensational and dramatic championship journey by Tony Bennett and his tenacious Cavalier team. UVA was Awesome Baby and so is this book!”

Ralph Sampson on Team of Destiny: “Jerry and Chris have lived and seen it all, even before my time. I highly recommend this book to every basketball fan across the globe. This story translates to all who know defeat and how to overcome it!”

Buy here.




augusta free press
augusta free press
augusta free press news