Awesome map via The Big Picture. Notice how Virginia, in the left map, is in the top 5 for run-up in prices. But in the right purply map, Virginia prices haven't fallen as fast. Downstate (outside NOVA) the correction lags by 18+ months. The Charlottesville Area bubble correction gathered downward, more rapid momentum on expiration of the Fed Homebuyer Tax Cred April 30, 2010.
And since then, prices have continued to fall and continue the downward march toward the early part of this decade.
Click for larger image in new window.
A Charlottesville/Albemarle Area RE Blog tracking the market's Boom Bubble Bust Bounce, from 2008 to 2013. The second half of 2010 saw a steep downward spiral in sales; 2011 saw sales volume at 13 yr lo with prices dropping each Quarter. 2012 began with even lower prices which resulted in an uptick in Y/Y sales, and mid-2012 saw "Carpe Diem" trumping "Caveat Emptor." 2013: Booming. Are we a "Protected Market" once again? Time will tell. * Check out the microblogging on Twitter: @CvilleBubble *
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2 comments:
Do you have an RSS feed? I don't seem to see a link.
Cheers,
Art
Never mind, I got it!
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