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

DATE: SUNDAY, October 30, 1994                   TAG: 9412240011
SECTION: HOMES                    PAGE: D1   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Short

STATE HOMES SALES DOWN FOR SEPTEMBER

Home sales in Virginia were down in September compared to last year's figure, according to the monthly survey of the Virginia Association of Realtors.

The group reported that it found 4,811 home sales pending statewide in September, a drop of 11 percent from 5,431 for the same month a year ago.

"At this time last year, mortgage rates were a full point lower," said Edwin C. Hall of Roanoke, president of the association. He said that fact probably accounts for the reason sales are down for the month.

But he said home sales for the year remain very strong compared to last year.

The association said that 51,124 homes were reported under contract for the first nine months of the year, up 0.8 percent over last year's figure of 50,672.

"Our hope is that the confidence that has been building among consumers throughout the year will encourage interest among the undecided home buyers," Hall said. "It still looks like we're going to have an excellent year."

Increases in home sales were seen in 13 or the 26 areas reporting sales activity, including Winchester-Front Royal, Bristol, Lynchburg, South Central, Southwest and Williamsburg.

by CNB