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VA's Housing Market Rebounds, Sales up in 2012 - NBC29 WVIR Charlottesville, VA News, Sports and Weather

VA's Housing Market Rebounds, Sales up in 2012

RICHMOND, Va. (AP) - A new report shows Virginia's housing market is rebounding.

The report released Wednesday by the Virginia Association of Realtors says home sales and home values across the state increased in 2012 from the previous year. Foreclosures declined during the same period.

Association spokeswoman Stacey Ricks tells The Richmond Times-Dispatch that Virginia's housing market is showing signs of an emerging recovery.

But new regulations are keeping credit availability tight. That makes it more difficult for potential buyers to obtain loans. And, some buyers are staying on the sidelines because of continuing uncertainty over the country's economy.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Information from: Richmond Times-Dispatch, http://www.timesdispatch.com

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