According to the First Quarter 2014 Virginia Home Sales Report published by the Virginia Association of REALTORS, the pace of residential home sales in the first quarter of 2014 was 5.67% lower than the first quarter of 2013.
(image source: First Quarter 2014 Virginia Home Sales Report, Virginia Association of REALTORS)
This decrease has been widely attributed to the weather, but could also be a sign of a slowing recovery. Despite the year-over-year decrease, the pace of sales is increasing steadily as we enter the spring selling season. If the slow first quarter can indeed be attributed to the weather, we should see sales pick up substantially in the next couple of months.
Are you looking to start the home buying process this Spring? Email us at concierge@lizmoore.com, we'd love to help! Or, click below to download our free Home Buyer's Handbook.
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