Home sales climb in Virginia - NBC12 - WWBT - Richmond, VA News On Your Side

Home sales climb in Virginia


There's good news in the Tri-cities area when it comes to the housing market. Realtors in central Virginia say it's a good economic indicator of where the market is headed, especially following a season where the housing forecast proved dismal.

It's part of the American dream, having a home to call your own. Just ask Ann Sorensen.

"There are still boxes unpacked," she said.

Sorensen just closed on her new house in Colonial Heights, a process she called surprisingly smooth.

"I was afraid there would be more red tape involved or bigger hurdles to get over and really there weren't," Sorensen said.

Realtors say there are many more like her in the Tri-cities area especially. Housing sales there show a boost, up 17 % from the third quarter of last year.

"It's not only the good news for this past quarter, were looking for better news next quarter," said Hank Duarte with Century 21 Colonial Realty.

Duarte with Century 21 says the public's confidence to buy again is gaining momentum after a period of stagnation.

"Two years ago we had to close one of our two offices…There was a time when the phone wasn't ringing so much but now people are going to their banks, they're getting money, they're going out and looking at houses," Duarte said.

For Sorensen it was only a matter of time before the home she had her eyes on would become her own.

"A lot of it is the neighborhood and a lot of it is the style of the house. It works well for our needs," she said.

Realtors say now is also a great time to borrow with home loans as low as 3 % right now. This finds potential buyers work on improving their credit and taking advantage of a housing market that's yours for the asking.

Copyright 2012 WWBT NBC12.  All rights reserved.

Powered by Frankly