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 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.

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.

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.

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.

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.

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)

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.

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

The Arlington County Board today approved The Berkeley, at 2900-2910 S. Glebe Road, a redevelopment project proposed by nonprofit housing developer AHC, Inc. One hundred and fifty-five of The Berkeley’s 257 apartments will remain affordable for decades. A majority of the affordable units will be family-sized, with two bedrooms or more