Fairfax – Home sale closings took a nearly 5 percent dip last month in July with 2,209 closings compared to 2,322 closings one year ago in the Northern Virginia Association of Realtors® footprint. This consists of Fairfax and Arlington counties, Falls Church and Alexandria. The silver lining for last month is found in the 2,889 pending transactions, a more than 14 percent increase when compared to the 2,529 pendings one year ago. “This could be an indicator of some strong months of sales activity ahead, yet with political campaigns heating up, this is not guaranteed,” said NVAR Chairman Virgil Frizzell. “In spite of fewer listings and sales, the transaction traffic did pick up, especially in the middle-priced homes, ranging from $400,000 to $800,000.

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