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

DATE: SUNDAY, January 24, 1993                   TAG: 9301220272
SECTION: CURRENT                    PAGE: NRV-11   EDITION: NEW RIVER VALLEY 
SOURCE: New River Valley bureau
DATELINE: BLACKSBURG                                LENGTH: Short

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HOME PRICES MAY REFLECT LAYOFFS

Home prices in the New River Valley declined significantly in November compared to November 1991, reflecting a concern over layoffs in the valley, according to John T. Mentzer, Virginia Real Estate professor at Virginia Tech.

Mentzer, who compiles and analyses residential real estate figures for the New River Valley Association of Realtors, also noted a decline in the number of homes new to the market and under contract from October to November.

"This may be a one-month shift in the data, but more likely is a reaction of buyers to news of the recent layoffs in the New River Valley," he said.

The average selling price of a homes in November was about $71,500, compared with about $85,400 a year earlier.

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