National statistics

“Ofheo (Office of Federal Housing Enterprise
Oversight) says that average home prices rose 11.17 percent from the fourth
quarter of 2003 to the fourth quarter of 2004…. But what happened to home
prices just in those last three months of 2004?… Average home prices rose
1.69 percent in the fourth quarter, for an annualize rate of 6.77
percent.”

…We continue to have a
simple supply and demand market. Large demand, driven in large part by the
University, not yet matched by an equal supply. Simply put, the market is
strong and looks to continue that way for some time…. *Note my disclaimers
from purporting to be an actual fortune teller.

“Ofheo (Office of Federal Housing Enterprise Oversight)
says that average home prices rose 11.17 percent from the fourth quarter of 2003
to the fourth quarter of 2004. That’s the year-over-year comparison. But what
happened to home prices just in those last three months of 2004? The pace of
appreciation slowed. Average home prices rose 1.69 percent in the fourth
quarter, for an annualize rate of 6.77
percent.”

What does this mean for
the Central VA region? Not much. We continue to have a simple supply and demand
market. Large demand, driven in large part by the University, not yet matched by
an equal supply. Simply put, the market is strong and looks to continue that way
for some time. Maybe. Perhaps. Probably. *Note my disclaimers from purporting to
be an actual fortune teller.

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