Thursday, October 27, 2011

Prices Will Continue Declining: VHDA Presentation on Conditions in the Charlottesville Area Housing Market

Barry Merchant, the senior economist for the Virginia Housing Development Authority, made his annual trip and offered an update on housing and economic conditions to the CAAR.

Fascinating presentation covering headwinds to the economy, to mortgage lending, and the difficulties facing homebuyers and sellers.

The upshotPrices are still declining.  Sellers need to keep this in mind when listing, and buyers need to keep this in mind when offering.

Related:
Post and Video: If It Doesn't Sell In 60 Days, the Price is Too High
30% of VA Homeowners At/Near Negative Equity
CAAR Q3 2011: In a Word, "Down" 
Nest Realty's Q3 2011: A Detailed Look at the Area's Pricing, Sales
Barry Merchant's presentation to CAAR - 10-26-2011

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