Low Housing Inventory Continues in Charlottesville and Albemarle

If you look solely at the numbers, it looks like housing inventory is up. Not so. I've been thinking for months that we'd be seeing more housing inventory on the market by now. It's not yet here. Comparing the first 9 days of February of this year versus last - 116 new listings came on last 1-9 February versus 50 this 1-9 February. For the MSA (Charlottesville, Albemarle, Fluvanna, Greene, Louisa, Nelson) - 84 this 1-9 February and 210 last 1-9 February. I'm confused. I know this: I have buyers who are looking for homes to to, and we can't find Read More

Cash & FHA Transactions in Charlottesville MSA – Local Analysis Matters

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The headline at Zero Hedge is a stunner. A Stunning 60% Of All Home Purchases Are "Cash Only" - A 200% Jump In Five YearsNaturally, I wondered what the numbers might look like for the Charlottesville area. Being curious, I thought I'd look at the numbers for FHA transactions - frequently used by first time homebuyers as the program requires only 3.5% downpayment. The FHA numbers were more interesting than Read More

Vacant Homes in Charlottesville MSA – 2012 Update

I've tracked the housing vacancy rate for homes actively on the market in the Charlottesville MSA irregularly over the past several years; it's an indicator as to the health of the housing market. More occupied homes = a healthier market. The last time I checked, the percent of homes on the market in the Charlottesville MLS that showed as being "vacant" in the showing instructions was about 22%. In 2008, that percentage was about 33%. In Read More