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Roanoke sees increase in home sales

By Nadine Maeser, nmaeser@wdbj7.com
Published On: Aug 21 2013 06:02:48 PM EDT
Updated On: Aug 21 2013 10:07:13 PM EDT

If you're in the market to sell your home, you're in luck.
Nationwide, home resales are the highest they've been in more than three years.

ROANOKE COUNTY, Va. -

If you're in the market to sell your home, you're in luck.

Nationwide, home resales are the highest they've been in more than three years. The market in Roanoke is also very strong at this point, according to the Roanoke Valley Association of Realtors.

"It's exciting for the economy here throughout the Valley because what happens here in the housing market definitely has an effect on everything else around us,” said president Betty Kingery.

All signs show the housing market is looking up in the area.

“Speaking with realtors throughout the valley they all gotten very busy,” she said. “They had a very busy spring. I think a lot of us peaked out during the month of May and we're still busy."

Kingery compared the sales from January 2012 to July 2012 to the same seven month period in 2013 and found a 19% increase in the number of homes sold in the area.

She told WDBJ 7 that fluctuating interest rates have a lot to do with how success they are in selling homes.

The average sale price of a home is also up 6.5 percent.

"I think it is reflective of the fact that this year we don’t have as many foreclosures on the market because that brought down our average,” she said.

Kingery said you’re not seeing many new homes being built and sold right now because of lending issues.