A new report out Wednesday says the Charlottesville - Albemarle housing market could be on the upswing after years of sluggishness, but it is still too early to tell.
Nest Realty released its 2nd Quarter 2012 Housing Report Wednesday. The second quarter of this year looks pretty good compared to this time last year.
In Charlottesville and the surrounding counties, sales are up almost 3 percent. There are fewer homes on the market and it is not just the second quarter that looked good. We have seen sales increases every quarter for the past year.
Realtors say for the most part, what we are seeing is very positive.
Jim Duncan of Nest Realty said, "We've been in this downward trend for a good five to six years. So now that we're able to say that we're seeing signs of moderation certainly is a positive sign."
But not everything is on the upswing, the report points out many people are still underwater, and it will take more market appreciation to set recovery into full motion.
Ed joined the NBC29 news team in May, 2011. A Charlotte, NC, native, he graduated from the University of North Carolina at Chapel Hill with degrees in journalism and political science.Full Story
Ed joined the NBC29 news team in May, 2011. A Charlotte, NC, native, he graduated from the University of North Carolina at Chapel Hill with degrees in journalism and political science. Email/Follow on Twitter/ Full Story