August Home Sales: 1 Percent Rise; Active Listings & Pendings Dip,
First-Time Homebuyers Start Their Equity Clocks Ticking While Interest Rates Remain Good
With many August home sales data points tracking horizontally or up, leaders at the Northern Virginia Association of Realtors® conclude that the anticipated expected tax deductions have not adversely affected Northern Virginia home sales.
"For the short term, the limits to the state and local tax deductions (SALT) appear to be only a slight headwind to buyer confidence in our region," said 2018 NVAR Chairman Lorraine Arora.
"We are showing slight increases in our average sold and median sold prices for August along with homes that are on the market