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Article: Home Sales Are Slow in Hampton Roads, Va.(Originated from Daily Press, Newport News, Va.)
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- October 5, 1997
- Author:
CopyrightCOPYRIGHT 1997 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEWPORT NEWS, Va.--Oct. 4--Home sales are lagging in Hampton Roads, even as the state reports an upswing.
The number of homes under contract in the region in August dropped 6 percent from a year ago, to 1,278, according to the Virginia Association of Realtors. The numbers were down slightly even in Williamsburg, which typically has reported increases this year.
Through August, pending home sales in Hampton Roads were off 9.5 percent from the same period of 1996.
Stephanie Young of the Residential Databank in Virginia Beach, said it's hard to figure why it's happening. Her best guess is that home sales are cyclical, and the region is ...
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