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home sales

May 2, 2025

Home ownership further out of reach as rising prices, high mortgage rates widen affordability gap

U.S. homebuyers now need $114K+ income to afford a median-priced home. High mortgage rates and rising prices keep ownership out of reach for many.

FILE - A housing development in Cranberry Township, Pa., is shown on March 29, 2024. (AP Photo/Gene J. Puskar, File)
Apr 24, 2025

March home sales slowed in a lethargic opening to the spring buying season

Sales of previously occupied U.S. homes slowed in March, a sluggish start to the spring homebuying season as elevated mortgage rates and rising prices discouraged many prospective home shoppers.

A for sale sign with a home in the background
Apr 4, 2025

Average US rate on a 30-year mortgage dips to 6.64% for the second drop in 2 weeks

The average rate on a 30-year mortgage in the U.S. edged lower for the second week in a row, a modest but welcome boost for prospective home shoppers in the midst of the spring homebuying season. The rate fell to 6.64% from 6.65% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the […]

FILE - A for sale sign stands outside a single-family home Thursday, June 27, 2024, in Englewood, Colo. (AP Photo/David Zalubowski, File)
Mar 20, 2025

US home sales rose in February as mortgage rates eased and more homes put up for sale

LOS ANGELES (AP) — Sales of previously occupied U.S. homes rose in February as easing mortgage rates and more properties on the market encouraged home shoppers. Existing home sales rose 4.2% last month from January to a seasonally adjusted annual rate of 4.26 million units, the National Association of Realtors said Thursday. Sales fell 1.2% […]

Jan 24, 2025

2024 Va. housing market outpaced 2023 — barely

There were 102,509 home sales in Virginia in 2024. That’s 4,000 more than the previous year, according to Virginia Realtors. “While Virginia’s 2024 housing market ended stronger than 2023, it was still relatively slow compared to average levels,” Ryan Price, chief economist for the trade organization, said in a statement. “Looking ahead to 2025, we predict pent-up […[...]

Dec 20, 2024

Statewide home sales, inventories rose in November

The fall 2024 housing market has outpaced the fall 2023 market across the commonwealth, according to statewide November sales data released Dec. 20 by Virginia Realtors. “For two months in a row now, Virginia has seen double-digit growth in closed sales,” Ryan Price, the trade organization’s chief economist, stated in a news release. In November, […]

Dec 13, 2024

NoVa, Hampton Roads housing markets improve in November

The Northern Virginia and Hampton Roads housing markets in November showed signs of improvement from the same month last year, including increased home sales and selling prices. Northern Virginia Home prices and sales activity in Northern Virginia rose year-over-year last month, indicating a healthier market than the November 2023 one. November housing sales in Northern […]

Active listings by locality at the end of October. Image courtesy Virginia Realtors
Nov 25, 2024

Va. home sales, inventory rises in October

Housing sales and inventory in Virginia rose in October, with closed sales up 12.5% from October 2023, according to Virginia Realtors data released Nov. 22. Last month, 8,732 homes sold in Virginia — 968 more than sold in October 2023. The influx of closed sales in October resulted from the jump in pending sales — […]

Historical September pending home sales in Virginia. Image courtesy Virginia Realtors
Oct 25, 2024

Va. pending home sales, prices rose in September

Pending home sales in Virginia rose in September — increasing almost 14% from September 2023 — suggesting more buyers are entering the market, according to Virginia Realtors data released Tuesday. Last month, 8,065 homes sold in Virginia, a less than 1% increase from September 2023. Although closed sales remained relatively flat year-over-year, pending sales rose, […]

Sep 16, 2024

Virginia Realtors CEO retires

Virginia Realtors CEO Terrie L. Suit is retiring after 11 years heading the state’s largest trade association, according to a Sept. 14 announcement. Glen Allen-based Virginia Realtors, which represents 36,000 Realtors, has appointed Martin K. Johnson as interim CEO. He has held varying roles with the association, including senior vice president of advocacy, chief lobbyist […]

Aug 29, 2024

Locked gears

When Gail Courville decided this year to move closer into the Richmond metro area from Serenity Farm, her 109-acre Goochland County estate, she faced a real estate market vastly changed from the last time she relocated, back in 2014. The interest rate on the nearly $900,000, 5,000-square-foot home she wanted to purchase in Henrico County […]

July market statistics in Northern Virginia. Image courtesy Northern Virginia Association of Realtors
Aug 16, 2024

NoVa, Hampton Roads home sales rise in July

Home sales in Northern Virginia and Hampton Roads rose year-over-year in July, while inventory as measured by active listings rose year-over-year and month-over-month for both. Both regions also saw median sales prices rise from the previous year but drop from June prices. Northern Virginia July home sales in Northern Virginia rose 13.5% from July 2023 […]

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