Housing sales up 19 percent for December
There were nearly 100 more homes sold in December 2013 than in December 2012, according to reports from the Dulles Area Association of Realtors.
A strong rally in the real estate market could be attributed to buyers hoping to beat the spring crush, when home sales traditionally go up, according to Brad Boland, the president of the Virginia Association of Realtors.
Gwen Pangle, a Realtor and the president of the Leesburg Downtown Business Association agrees.
"I think we are starting a spring market early," said Pangle.
She believes the early movement could be as a result of people's desire to get ahead of raising interest rates.
Going forward, Pangle's main concern for the housing market is one that has been lingering for quite a while now – low inventory.
There have been fewer than three months of home sales for months, according to Pangle.
Pangle believes low inventory can be as much of a problem as having too many houses to sell.
Activity has gone up even more across the state for the month of January, and Boland believes that going forward the move-up market – people looking to move into larger or more expensive houses – could go up as well.
Boland also thinks there is a chance that January sales numbers will increase over last year, even more than December numbers did over a year ago.
"I'm encouraged, I'm really encouraged," said Boland.
Be the first to post a comment!
- More costs, delays for Metro’s Silver Line to Loudoun
- Wason Center poll: Jeb Bush surpasses Hillary Clinton in Virginia
- In Northern Va., Michelle Obama says tech industry to train, hire 90K military vets
- Parent takes Loudoun school administrators to court over alleged FOIA violations
- U-Va. dean bashes Rolling Stone article in open letter