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Job cuts affect housing market

Job cuts affect housing market (Image 1) (Copyright by WSLS - All rights reserved)

ROANOKE VALLEY (WSLS 10) - The impact of several companies cutting or relocating jobs is now being felt in the local real estate market.

More homes are now going up for sale. 

Real estate agent Sonya Dickinson says the housing market is competitive since companies are consolidating and people are leaving the area.

"What we're seeing is more houses coming on the market between of Norfolk Southern especially on the higher end," says Dickinson.

Most of those homes are in South Roanoke, Hunting Hills, and Ashley Plantation costing between $500,000 to $700,000. 

Dickinson is also seeing more homes in the $200,000 price range.

Alice Kassens an economics professor with Roanoke College says you can get a good deal with all the competition.

"If you see a cluster of signs for homes for sale it may not necessarily be a bad thing it may be great if you're a buyer," says Dr. Kassens.