2010 – 2Q home sales — Northern Virginia

The home sales numbers are in for the second quarter of 2010 (April 1 through June 30), and the news is good, but the outlook may not be.

• Sales are up.
• Prices are up.
• Pending sales were up in June.
• Days on market are down.

The unemployment rate is slowly going down. Several major corporations will be keeping, moving, or opening facilities in the Commonwealth. But there are clouds around those silver linings: Foreclosures are up in most of the state — 14% overall from the second quarter of 2009; only Northern Virginia saw a drop from year to year, while the Southwest and Central Valley regions were hit particularly hard.

And then there’s the end of the homebuyer tax credit. This past quarter was the last in which buyers could get up to $8,000 from the government for buying a home.

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