Tuesday, February 21, 2012

Central Virginia Lockbox Activity: Who's Looking At Houses?

Nest Realty Group and associate broker Jim Duncan are reporting that lockbox activity is up for January-February 10.  The lack of winter in Central Virginia this year is certainly helping, as are declining home prices and historically low interest rates under 4% for the past three monts.  But will the lookies turn into closed sales?  Buyer activity was also up in 2009; the current 2012 lockbox activity is lower per listing, since 2009 was a year of Homebuyer Tax Credit.

Caveat, as per RealCentralVA: the graph shows listings are up for the MLS - the multiple listing service in Central Virginia, not the MSA - Metropolitan Statistical Area of Charlottesville, Albemarle, Fluvanna, Greene, Louisa, and Nelson.

Lockbox activity, from Nest. Key: purple = 2012 / rust = 2011/ yellow = 2010
The increase is translating into more contracts written in January, but whether this will translate into closed sales won't be seen until March-April.

No comments: