Few Central Virginia Areas Defy State-Wide Trend of Declining Home Markets
CHARLOTTESVILLE, Va. (WVIR) - The number of homes on the market across the commonwealth is declining, but some central Virginia areas are defying that trend.
A recent report from Virginia Realtors says the number of active listings in the state fell 10% in August compared to a year ago. A report from the Charlottesville Area Association of Realtors does however show some areas seeing an uptick in listings during Quarter 2 of 2019 compared to last year, but inventory is still low.
"What we're seeing is not that the demand is down...but there's just not enough homes to go around and it's a combination of builders not building as many homes as they traditionally have," said realtor Tom Woolfolk.
In that report from the CAAR, Fluvanna and Greene counties as well as the City of Charlottesville saw a slight increase in active listings.