According to the July 2016 Home Sales Report released by the Virginia Association of REALTORS® (VAR), residential real estate sales have slowed from this point last year. Following historical industry trend, July sales descended seasonally from their June peak. Despite a moderate decline in pace and volume for July, year-to-date measures have outperformed 2015. Volume through the end of July 2016 exceeded $22.071 billion, a gain of 5.1 percent from last year’s accumulation of $20.992 billion.
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