Housing Report Shows Virginia Market Looking Up

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Things continue to look up for the housing market. Home sales are growing and foreclosures are on the decrease.

Wednesday, the Virginia Association of Realtors released their 2012 housing report. The state of Virginia saw an 8 percent growth year-over-year in home sales during 2012. Central Virginia saw an even greater increase at 11 percent year-over-year. Charlottesville and Albemarle County saw one of the greatest increases in sales.

"Home sales in central Virginia are up by about 11 percent, when we look at our numbers from a more localized level they're actually up about 15 percent year over year," said Jim Duncan, a real estate broker.

Each region throughout the commonwealth either held their median sales prices or experienced a price increase.