Here we are, more than six months into (through?) 2012, and it seems that the real estate market in the New River Valley has changed since last year at this time. That was certainly the case for the first quarter of 2012, and it looks to be the case for the second quarter, as well. Once again, the bean counters in Nest HQ have done a fantastic job compiling all of these statistics.
Two quarters in, the summary seems to be that sales are up, inventory is down, and Blacksburg is again leading the charge. Consumer confidence also seems to be improving, as well, which bodes well for the remainder of the year. While it sounds like a broken record to say again that Blacksburg is leading the area’s real estate market, that’s also a good thing. Blacksburg is home to the region’s largest employer, and if that Town isn’t growing, the region isn’t as well; but that’s not the case.
We still need to get some of the inventory out of the market, but all signs are pointing to a measured recovery.