The article locates the Charlottesville Albemarle real estate market in "reality":
- many short sales
- increasing foreclosures
- the growing "shadow inventory"
- huge inventory overhang - every day more properties listed
- few qualified buyers
- vanishing private employment
In the past, The DP has presented the Charlottesville Area Association of Realtors quarterly reports that show plummeting home sales, glossed over the number of short sales and foreclosures, and simultaneously quoted local Realtors' hopes for a "recovery" or "rebound" that could always be "just around the corner." The optimism seems to have been based on something other than the local or national housing markets and economies.
The New Normal in Charlottesville / Albemarle Real Estate - Multi-Part Series