January 9, 2012
Reflecting a national trend, real estate prices in Charlottesville continue to fall.
A new report released Monday showed the average home price was down 2.7% in November compared to the same month one year ago.
The numbers come from CoreLogic, a company that tracks the housing industry.
While prices are down in Charlottesville, much of the rest of the nation is seeing far steeper declines.
Republican 5th district Congressman Robert Hurt visited Charlottesville to speak with constituents about the home sales and other concerns. Hurt says the economy needs to rebound before there is a high demand for houses again. He also says policies in Washington need to change before home prices change.
"We all need to go back to Washington to work together and try to adopt those policies that make it easier for people to create jobs and make it easier for those businesses who struggling to survive," said Hurt.
Home prices nationally fell 4.3% in November compared to November 2010.