But the article takes a left hand turn into Wha--huh? when the reporter says,
The local market reflects national trends, but the market here remains more stable than in the country as a whole.No. Not even close. This lil ole market has seen a 225% YOY increase in foreclosures (as recently reported by same writer), sales have plunged down to the 1990's levels, every month sellers have about a 6% chance of unloading their property, the current 18 months of inventory is nearly twice the national level (8+ months for new homes, 10+ for existing); while 1 in 4 Virginia homewners owes more than the house is worth, and local private sector employment is vanishing.
If by "stable" it's meant that this market is going to continue with these negative trends for the next several years--then yes, this market is "stable."