Summer Slow-down…
Wednesday, August 16th, 2006With triple-digit temperatures in recent weeks here in Central Virginia, all activity seems to be winding down to an almost dead stop. The local the housing market is no exception and has slowed significantly from this time last year. Several open-houses in my area over the last two weekends failed to bring a parade of potential buyers driving through the neighborhoods. Other areas of the country are experiencing the same slow-down.
Where is the market still warm?? According to CNNMoney.com, markets that swelled from the influx of Katrina refugees are continuing to experience positive growth. Several others, such as Viriginia Beach and Gainsville, FL, remain strong.
While a slow-down has been long-anticipated, real estate is still a strong market and although prices are falling in some areas, there is no indication of wide-spread depreciation. For complete details on the second quarter figures on over 150 markets nationwide, click here.