The Virginia Real Estate Indexes held fast to the dips in the last quarter of 2018. Buyers appear frustrated by prices which are currently driven by falling inventories which are down 15 percent over the past year.

The Va. Index of Consumer Sentiment increased by almost two points, largely due to gains in consumer expectations for the coming year. The party gap grew amidst political turmoil.

Virginia Real Estate Indexes fell sharply over the fourth quarter, but remain strong. The index for current real estate conditions dropped almost 15 points from the record high last quarter but remain in strong territory particularly for the slow winter months.

The latest Roanoke College Poll looks at consumer sentiment. Virginians are feeling prosperous and the political divide has shrunk now that the mid-term elections are over. 

Most Virginians plan to spend more than they did a year ago this holiday season, largely paying in cash. Overall, 40% plan to hit the stores the day after Thanksgiving. 

The Virginia Index of Consumer Sentiment fell modestly by two points over the third quarter but remains above the historical average. The dip is largely due to consumer expectations for the coming year. Consumers report improved incomes from a year ago. The party gap increased, reaching the highest value since the 2016 Presidential election.

Dr. Alice Kassens, the John S. Shannon Professor of Economics, has been appointed by Governor Ralph Northam to the Joint Advisory Board of Economists for the second consecutive term.

Consumer sentiment in Virginia dips but remains near its historical high. The political party divide increased slightly.   

Consumer sentiment in February was close to historic record high despite stock market turmoil and legislation such as the tax reform bill and the budget deal. 

Sentiment concerning current conditions and expectations of improved household finances suggest a strong holiday season for retailers and other industries in the final quarter of 2017.