October 17, 2008 8:24 AM
Falling home prices in Prince William County have caused a spree of home sales, according to The Washington Post. In September, 1,116 homes were sold in teh county, a 235 percent increase over September 2007 and the most homes ever sold during that month.
The median value of home sales in Prince William has plunged 41 percent, from $405,000 to $239,900.
(The Washington Post)
Most of the surge of homes sales was due to the prices going down, coupled with many mortgage programs that went away Oct. 1st. This increase in sales will not last since most buyers will not qualify for mortgages. September was the buyers last shot at the American dream for many as Fannie, Freddie FHA, VA, and VHDA make more dificult to meet guidelines.
Tim of Northern Virgnina
Oct. 21, 2008 at 09:50 AM
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