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Virginia housing market gains further strength with high-performing second quarter

The Virginia residential real estate market continued year-over-year and long term improvement according to the Second Quarter 2016 Home Sales Report released by the Virginia Association of REALTORS® (VAR). Both the total number of sales and the value of transactions rose from the same period last year, to 34,688 units and $11.720 billion, respectively. Volume - the sum of all transactions for April, May, and June of 2016 - was 8.6 percent higher than the same period last year, and more than 20 percent higher than the second quarter of 2014.

2016 Second Quarter Home Sales Report

The Virginia residential real estate market continued year-over-year and long term improvement according to the Second Quarter 2016 Home Sales Report released by the Virginia Association of REALTORS® (VAR). Both the total number of sales and the value of transactions rose from the same period last year, to 34,688 units and $11.720 billion, respectively. Volume - the sum of all transactions for April, May, and June of 2016 - was 8.6 percent higher than the same period last year, and more than 20 percent higher than the second quarter of 2014

Governor McAuliffe Announces 10.5 Percent Decrease in Overall Homelessness in Virginia

Governor Terry McAuliffe today announced that overall homelessness in the Commonwealth declined 10.5 percent in 2016 versus 2015, with a 17 percent decrease in family homelessness in the same period. In addition, more than $14.7 million was recently awarded in Virginia Homeless Solutions Program (VHSP) grants to combat homelessness in Virginia. The new preliminary numbers originate from annual point in time data collected by local Continuum of Care groups across Virginia in January each year and compiled by the Virginia Department of Housing and Community Development.

KAINE PRAISES SENATE PASSAGE OF BIPARTISAN HOUSING REFORM BILL

U.S. Senator Tim Kaine announced that the Senate unanimously passed the Housing Opportunity Through Modernization Act, bipartisan housing legislation that would enact broadly supported federal housing reforms. The bill includes provisions from the Family Unification, Preservation and Modernization Act, a bill Kaine introduced late last year to prevent youth homelessness, keep children and families together and meet the needs of youth transitioning out of foster care.

Sens. Warner, Corker Warn FHFA Against Taking Actions Harmful to Housing Finance Reform

U.S. Sens. Mark R. Warner (D-VA) and Bob Corker (R-Tenn.), members of the Senate Banking Committee, were joined by Senate colleagues Mike Crapo (R-Idaho), Heidi Heitkamp (D-N.D.), Dean Heller (R-Nev.), and Jon Tester (D-Mont.) in authoring a bipartisan letter to the director of the Federal Housing Finance Agency (FHFA). The letter encouraged Director Mel Watt to avoid taking steps that may facilitate the release of government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac out of conservatorship without comprehensive reform.

SENS. WARNER & KAINE ANNOUNCE $160,000 IN FUNDING TO RELIEVE VETERAN HOMELESSNESS IN HAMPTON

As we head into Independence Day weekend, Sens. Mark R. Warner and Tim Kaine (both D-VA) announced today that the U.S. Departments of Housing and Urban Development (HUD) and Veterans Affairs (V-A) will award $166,336 to the Hampton Redevelopment and Housing Authority (HRHA) to help homeless veterans find affordable and stable housing.

Warner, Kaine, Scott Announce $500,000 for Newport News Neighborhood Revitalization

U.S. Senators Mark Warner and Tim Kaine, along with Representative Bobby Scott, announced that the City of Newport News will receive $500,000 from the U.S. Department of Housing and Urban Development’s (HUD) Choice Neighborhoods Planning Grant program. The funding supports revitalization efforts in local communities.

May Proves a Good Month for the Local Real Estate Market

The following analysis of the Fredericksburg, Virginia area housing market has been prepared by the Fredericksburg Area Association of REALTORS® based on analysis of MRIS multiple listing data provided through RealEstate Business Intelligence, LLC (RBI)

WARNER & KAINE ANNOUNCE MORE THAN $736,000 TO RELIEVE VETERANS’ HOMELESSNESS IN VIRGINIA

U.S. Senators Mark Warner and Tim Kaine announced that the U.S. Departments of Housing and Urban Development (HUD) and Veterans Affairs (VA) are awarding $736,284 to Virginia housing authorities and local VA Medical Centers (VAMCs) to help homeless veterans find affordable and stable housing.

Spring sales boost Virginia residential real estate market

The Virginia residential real estate market recorded booming spring sales according to the April 2016 Home Sales Report released by the Virginia Association of REALTORS® (VAR). Bolstering market strength and economic impact, the number of sales, value of transactions, and median price rose markedly from this period last year. In April 2016, there were 9,945 sales recorded for a total volume of $3.23 billion. The value of transactions for this April was nearly ten percent higher than the same month last year, and more than 18 percent higher than in April 2014 ($2.95 and $2.73 billion, respectively). Year-to-date, Virginia residential sales have totaled more than $9.61 billion

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Arlington County Board Approves Redevelopment of Former Bob Peck Site

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Virginia housing market gains further strength with high-performing second quarter

The Virginia residential real estate market continued year-over-year and long term improvement according to the Second Quarter 2016 Home Sales Report released by the Virginia Association of REALTORS® (VAR). Both the total number of sales and the value of transactions rose from the same period last year, to 34,688 units and $11.720 billion, respectively. Volume - the sum of all transactions for April, May, and June of 2016 - was 8.6 percent higher than the same period last year, and more than 20 percent higher than the second quarter of 2014.