While the Alexandria area housing market has weathered the economic downturn better than many parts of the country, its has taken its share of hits. The number of practicing Realtors is down, the foreclosure rate is up, and sale, volume fell significantly through the early part of 2011.
“We’re still in a down cycle, no doubt about it,” said Rod Noles with Noles-Frye Realty of Alexandria. “It’s the longest down cycle I’ve seen in my 37 years in the business.” “It’s picking up a little bit,” said Debbie Ranson with Crye-Leike Ranson Real Estate, alsi in Alexandria. “But I think people are still afraid, and it’s harder to get loans. I think we have a healthy market in comparison with the rest of the U.S.”
The number of practicing Realtors, one indicator of whether the market is up or down, has declined by about 20 percent in the past three-plus years.
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