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by CareyBot

Home sales across Virginia declined for the 13th straight month in September, falling 27 percent from their year-ago pace, giving way to lower prices, the Virginia Association of Realtors reported. Realtors recorded 8,537 single-family home sales last month, down from 11,693 in September 2005. The median existing-home price dipped to $199,975 during that period, falling 9 percent from $220,125, although last month's price rose from $194,200 in August. "There is no doubt that consumers are more cautious and taking their time in making a purchase decision," said Kit Hale, president of VAR. "We're also hearing that sellers are waiting until their homes are sold before purchasing another in order to avoid placing a contingent contract." Despite the sales slowdown, the South Central Virginia a...