Fewer people buying homes in Virginia, according to report
A report released from Virginia REALTORS says fewer people are buying homes right now.
Published: Mar. 21, 2023 at 3:21 PM EDT
CHARLOTTESVILLE, Va. (WVIR) - A report released from Virginia REALTORS says fewer people are buying homes right now.
There is a 20% decease in sales compared to this time last year. It is the fifteenth month in a row with a decline.
Even though interest rates have more than doubled during this period, home prices are still rising.
Ryan Price, chief economist with Virginia REALTORS, says despite the prices, now is a good time for buyers. Homes are staying on the market longer, and that means more bargaining power.
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