There have been a number of signs to show that the housing market in Northern Virginia is stabilizing, according to a recent article in The Washington Post.

Some encouraging facts include:

-  Being on pace to have half the number of foreclosures as last year
-  Average price of homes is stabilizing
-  Properties are moving faster
-  The number of homes being sold is increasing

Real estate experts are very happy to see these kinds of stats, and area homeowners should be too. An improving real estate market means more security in home values.

"Real estate agents and county officials in Northern Virginia say the local housing market is showing signs of stabilizing.

Carolyn Capalbo, a real estate agent in Manassas who works in Prince William, Loudoun, Fairfax and Fauquier counties, said she has noticed a 'sharp shift' in the past six months, as a swell of buyers, many looking to purchase their first home, have been jockeying for a smaller pool of houses.

'It's a seller's market,' Capalbo said. 'We have a lot of relocation people who they feel like can come in and get the deal of the century but find themselves in competition over property, and they're shocked.'

The number of foreclosures in each county is down from last year, according to county data. In Prince William County, Manassas and Manassas Park, foreclosures through the first half of this year numbered 2,200, on pace to total far fewer than the 8,300 last year, said Bill Vaughn, county economist and demographer.

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