Why are the prices of houses in Roanoke going up so much over the last year (18%) while the rest of the?

Asked by Chris, Roanoke, VA Tue Dec 30, 2008

country is down around 25%?

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John Gallagh…, , Roanoke, VA
Wed Dec 31, 2008
Chris, Thank you for your question. I am not sure that I can validate your data for the Roanoke, VA market. OUr local Association of Realtors indicates that home prices in the Roanoke Valley are downnearly 10% comparing year over year pricing. Our overall voulme (Sold $) is off nearly 30% in the Roanoke Valley. All of this, coupled with the historic low interest rates make it a great time to buy.

If I can be of any further assistance, please let me know.
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