Local Home Prices Continue to Slide

Summary

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Pressured by foreclosures and other lingering mortgage problems, sale prices for homes in the Tri-Cities tumbled in the first three months of this year, according to new figures from the Southside Virginia Association of Realtors.

A total of 835 existing single-family homes changed hands in the region in the first quarter, down 11.2 percent from 940 in the final quarter of last year but up by the same percentage from 751 homes in the first three months of 2010.

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Extract

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Local Home Prices Continue to Slide

Excluding Chesterfield County, where the numbers are skewed by activity in the heavily populated Richmond suburbs, 162 homes were sold from January through March this year, down 22.1 percent from 208 in the last three months of 2010 and down 2.4 percent from 166 in the f...

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