---

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

DATE: TUESDAY, January 5, 1993                   TAG: 9301050059
SECTION: BUSINESS                    PAGE: A5   EDITION: METRO  
SOURCE: Charlyn McWilliams/Staff
DATELINE:                                 LENGTH: Short

---

HOME SALES UP 52% IN ROANOKE

Home sales in the Roanoke area rose 52 percent in 1992 from 1991, according to a report released Monday by the Roanoke Valley Association of Realtors.

"Low interest rates, a stable local economy and a good mix of housing styles and prices have kept the market moving," said Association President Anne Lee Stevens. "The slight increase in interest rates in November and December helped push a lot of people off the fence."

In December, 189 houses were put under contract, 54 percent more than the 123 in December 1991.

Increased sales in other parts of the country also have had a positive impact on Roanoke's market. People who moved here in 1991 left homes for sale elsewhere, Stevens said, and once those houses were sold, people were able to buy new ones in the Roanoke Valley.

Last year's increase was the largest since records were begun in mid-1983.

A large number of first-time home buyers also helped the market last year, Stevens said. Numbers show that 129 of the December sales were under $100,000, the range that usually attracts more first-time home buyers.

Roanoke was one of the state's strongest sales areas, Stevens said, though other parts of the state, including Northern Virginia and the Tidewater area, have boasted good sales.

---