
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: SUNDAY, August 7, 1994                   TAG: 9409010001
SECTION: HOMES                    PAGE: B1   EDITION: METRO   
SOURCE: 
DATELINE:                                 LENGTH: Short

HOME SALES IN VIRGINIA RISE 1.74% IN FIRST HALF

Pending home sales in Virginia increased in the first half of the year, according to a survey by the Virginia Association of Realtors.

The report indicated 34,293 single-family homes had been placed under contract through June, up 1.74 percent from 33,707 for the first six months of 1993.

For the month of June, 5,543 new and existing homes were placed under contract, compared to the prior June's figure of 5,929. That's a decrease of 6.96 percent.

Edwin Hall of Roanoke, president of the association, said the figures suggest that consumers are slower to buy homes than they were in the spring because of the stabilization of interest rates.

"That, along with seasonal fluctuations, is the likely cause behind the decrease in home sales," Hall said. He added that interest rates remain reasonably low and homes are more affordable than in the past.

Memo: ***CORRECTION***

by CNB