Virginia’s Housing Market Inches Closer to More “Normal” Conditions
According to the September 2021 Home Sales Report released by Virginia REALTORS®, for the first time in more than a year, sales activity in Virginia slowed in September compared to the prior year.
There were 13,079 home sales in Virginia in September 2021, down 2% from September 2020, when sales were surging due to pent-up demand from the abrupt market slowdown during the spring. “While sales are down year-over-year, it’s important to remember that the market last September was unusually active,” says Virginia REALTORS® Chief Economist Lisa Sturtevant, PhD. “Slower sales activity does indicate a cooling in the market, but it also suggests that we’re seeing more typical seasonality in the market.”
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