Virginia, like many other East Coast states, has a large influence on education, technology, and health care. The state is home to numerous universities, government institutions, and technology companies which fuel the state’s economy and play a large part in its culture. As the home to the Department of Defense and CIA headquarters, the state holds an influential role for the entire country. Many of the jobs created come from the various government institutions spread throughout the state. Universities and other businesses also help to provide numerous jobs for Virginians.

The state has a very rich history dating back to the early colonial days. One of the first settlements in the country is in the Virginia Beach area. Numerous other historical attractions are found throughout the state including many of the founding U.S. presidents’ homes. Since the colonial days, Virginia has been developing into the state it is today. Despite the state’s rapid development and immigration, it maintains its rich American history in the arts and culture of Virginians throughout the state.
The state offers a very beautiful landscape ranging from its higher mountain ranges in the east all the way to its long, sandy beaches on the coast. Bordered by Washington D.C., Maryland, and West Virginia to the north; Kentucky to the west; and North Carolina and Tennessee to the south; the state has a mix of many different geological terrains. Sixty-five percent of the state is covered in beautiful forests. Stunning beaches are also lined along the coast for miles. Virginia Beach provides the longest sandy beach of any along the East Coast and attracts people from all over during the summer months. Read more »

The two largest cities in the state, Richmond and Virginia Beach, have seen rapid expansion in recent years. Increased population from universities, job opportunities, and tourism has helped the cities expand. The housing market in the state has done well from a stable increase in jobs and a fairly consistent housing price. Home buyers are not afraid to buy new homes with dependable jobs and higher than average incomes.

Sales Trends
Sales totals for the state are better than for most of the country. Cities like Richmond and Virginia Beach have had large job increases which attract new residents. The Fairfax area has also done well from its close proximity to Washington D.C. and its many government institutions in the area. In a recent report by Hanley Wood on the healthiest housing markets, Richmond was considered as “having a lot going for it.” The report highlighted the modest job growth from several major universities as playing a large part in the success of the market. With a total of 4,970 new homes sold in 2008, the market is performing better than most others with similar sizes. The report also highlighted the success of the Virginia Beach market coming from its 11,000 new jobs added last year. Job creation has proven to be a key factor in the success of the Virginia housing market. Additional information on this report is available here

Other Key Trends
Job creation has played a large part in the success of the housing market in Virginia. Job retention, at the other end of the spectrum, also contributes a lot to the success of the market. The high number of government jobs in the state has helped to keep jobs for many Virginians. Government jobs are some of the most dependable industries in employment. Regardless of economic conditions, government jobs are needed in order for the American system to operate. Virginia’s large number of government employees has helped to keep unemployment rates at lower levels as other industries in the job market feel the constrains of a downed economy.  « Close »