by Calculated Risk on 8/12/2005 11:39:00 AM

UPDATE: More inventory data - GREATER NORTHERN VIRGINIA AREA

Active Listings	2005	2004	Pct.Chg
Single Family Homes	8,800	6,588	33.6%
Condos & Coops	1,544	1,010	52.9%
TOTAL	10,344	7,598	36.1%

Leesburg Today reports the Virginia housing market is "changing". The story has many positive comments, but:

... there are definite signs of a slowdown and that the market is undergoing a correction ... reported an across-the-board slowing, a build up of inventories and a shift in power from the seller-dominated market of the past few years back to the buyer.

The housing market is still strong, but the story is rising inventories:

Fischer noted that inventories have quadrupled in the resale market over the past two-and-a-half months. Although that trend has not extended yet to new home sales, Fischer predicted "it’s reasonable to expect that as those inventories build, that will have an impact on the new home frenzy."