CAAR: Home Buying Slows for 4th Quarter, Year-End Receives High Marks

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The Charlottesville Area Association of REALTORS (CAAR) says it is a seller's market in the greater-Charlottesville area, despite some lower numbers at the end of last year.

A CAAR report concluded fewer houses were listed during the fourth quarter of 2018 than at the same time in 2017.

CAAR Representative Tom Woolfolk says despite the low numbers, the housing market is doing well: “Indications right now are good for 2019, but you don't know. The futures uncertain, we don't expect interest rates to increase greatly. We expect it to be a good, stable market, but how the numbers end up we’ll have to see when the next quarter comes out,” he said.

Woolfolk says generally fewer houses sell in the last part of the year, so the lower fourth quarter numbers are not unusual.

01/09/2019 Release from the Charlottesville Area Association of REALTORS: