Economic Gobbldey-Gook Affecting Homes For Sale In Woodbridge VA

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Real Estate Agent with Cell: 703-677-1120

Economic Gobbldey-Gook Affecting Homes For Sale In Woodbridge VA

Woodbridge Real Estate I Currently Beating The National Averages

We're Back To A Sellers Market Because There Are More Buyers Than Homes For Sale

Here is the text of a report written by my pal, David Soleyman:

"The index of leading economic indicators — designed to forecast economic activity in the next three to six months — rose 0.7% in February, following a revised 0.2% increase in January. The February reading was the highest level since June 2008.

Initial claims for unemployment benefits for the week ending March 17 fell by 5,000 to 348,000, the lowest reading since February 2008. Continuing claims for the week ending March 10 fell by 9,000 to 3.35 million.

The combined construction of new single-family homes and apartments in February fell 1.1% to a seasonally adjusted annual rate of 698,000 units, after an upwardly revised gain of 3.7% in January. The January figure was revised from 699,000 units to 706,000 units. Compared to a year ago, housing starts are up 34.7%. Applications for new building permits, seen as an indicator of future activity, rose 5.1% to an annual rate of 717,000 units.

Existing home sales fell 0.9% in February to a seasonally adjusted annual rate of 4.59 million units from an home values in Woodbridge VA, home prices in Woodbridge Virginia,Erick Blackwelder Exit Realty,homes for sale in Woodbridge Virginiaupwardly revised 4.63 million units in January. The inventory of unsold homes on the market increased 4.3% to 2.43 million, a 6.4-month supply at the current sales pace, up from a 6-month supply in January.

New home sales fell 1.6% in February to a seasonally adjusted annual rate of 313,000 units from a downwardly revised rate of 318,000 units in January. The initial January reading was 321,000. The December rate was revised higher to 336,000 units, the highest level since the economic recovery began. On a year-over-year basis, new home sales are up 11.4%. At the current sales pace, there's a 5.8-month supply of new homes on the market.

The Mortgage Bankers Association said its seasonally adjusted composite index of mortgage applications for the week ending March 16 fell 7.4%. Refinancing applications decreased 9.3%. Purchase volume fell 1%.

Upcoming on the economic calendar are reports on pending home sales on March 26 and the housing price index on March 27."

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Erick BlackwelderCall or text Erick Blackwelder right now for help finding a home, or help selling your house.  

Don't worry... Erick doesn't bite, and you won't get a sales pitch.  Text or call Erick now at 703-677-1120 for a FREE consultation.

CLICK HERE NOW to search the Multiple Listing Service (MLS) for homes for sale in and around Woodbridge, Lorton, and Mount Vernon.

Exit Realty Associates
8998C Lorton Station Blvd
Lorton, VA  22079
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Rainmaker
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Edward & Celia Maddox
The Celtic Connection Realty - Queen Creek, AZ
EXPERIENCE & INTEGRITY - WE TAKE THE HIGH ROAD

We also have a much lower inventory starting this year.

Mar 26, 2012 01:20 AM #1
Rainmaker
359,877
Erick Blackwelder
Cell: 703-677-1120 - Woodbridge, VA
Text or call Erick now at 703-677-1120.

Now that the bulk of foreclosures have been flushed out of the market, homes for sale look nice because owners live in them, or the owners moved before putting the house on the market.

Mar 26, 2012 02:16 AM #2
Rainmaker
567,881
AJ Heidmann ~ CRS
McEnearney Associates, Inc. - Alexandria, VA
YOUR Alexandria & Arlington, VA Real Estate Expert

Erick - This year has been all about the lack of inventory here in Northern Virginia.  Properties that wouldn't have been looked at seriously last year are getting offers... and sometimes several.  I agree with your statement, we are beating the national averages.

Mar 26, 2012 02:48 PM #3
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Rainmaker
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Erick Blackwelder

Text or call Erick now at 703-677-1120.
Text or call Erick now at 703-677-1120.
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