Sign In
Free Newsletter
NoVa home prices increase, Hampton Roads sees inventory boost
Median home prices in Northern Virginia continue to increase, hitting $700,000 in August, an 11.6% percent increase over the previous year, according to the latest report from the Northern Virginia Association of Realtors. At the same time, year-over-year sales declined, decreasing 12.4% from August 2022, but month-over-month sales increased as the summer reaches its end. […]
Low inventory, high interest rates strap Va. housing market
Homebuyers in Virginia are continuing to feel the strain of low inventory and high interest rates. The number of active listings on the market is shrinking, and fewer new listings are coming on the market. Despite a brief uptick in inventory at the beginning the year, about 67% of the state’s counties and cities had […]
Tight housing markets continue in NoVa, Hampton Roads
Home sales in Northern Virginia in June were up 3.6% from the previous month, but still down 16% compared with the same period a year ago, according to a report from the Northern Virginia Association of Realtors released Wednesday. “Many factors” are pointing to the region’s market normalizing when comparing it to five-year trends, the report […]
NoVa housing forecast: sellers’ market to continue
Northern Virginia’s housing market will likely remain a sellers’ market for the rest of 2023, according to a Northern Virginia Association of Realtors market forecast released June 6. NVAR and George Mason University’s Center for Regional Analysis predict a continuing housing inventory shortage and pent-up demand from buyers amid positive economic conditions but mounting risks. [[...]
Hampton Roads housing inventory rises, listings still low
Residential inventory in Hampton Roads has risen slightly from last year, although active listings remain below pre-pandemic levels, according to April data from the Real Estate Information Network Inc. (REIN). Active listings in April were down 0.97% year-over-year from the 3,187 listings that REIN recorded in April 2022. Pending sales stood at 2,363, down 21% […]
Va. spring housing market has slow start
Virginia’s residential real estate market is off to a slow start this spring. Virginia home sales in March dropped 24% from March 2022, marking the 16th consecutive month of declining sales, and the median sales price dropped year-over-year for the first time in seven years, according to a Virginia Realtors report released Thursday. Virginia home […]
Va. home sales down 20% from a year ago
Virginia home sales were down 20.3% in February compared with the same month last year, marking the 15th consecutive month of declining sales, according to a Virginia Realtors report released March 21. Home sales in the commonwealth last month totaled 6,505, a decrease of 1,655 sales from February 2022. The Northern Neck and parts of […]
Va. home sales saw sharp drop in October
Virginia home sales in October decreased by 30.2% from the same time last year, the largest year-over-year sales decrease in more than a decade, according to a Virginia Realtors report released this week. In October, 8,828 homes sold in Virginia, 3,828 fewer than in October 2021. Nationally, home sales declined for the ninth straight month […]
Mortgage rates above 7% shock volatile housing market
Charlottesville Realtor Denise Ramey has a client who put in multiple bids for houses over the summer, when the market was booming, but they were all turned down. Now, with mortgage rates topping 7% for the first time in more than 20 years, he’s not sure if he will buy a house at all — […]
A slow shift
Jeremy Caleb Johnson is advising clients preapproved for a mortgage loan at the beginning of 2022 to adjust expectations. The price of houses they may have looked at just months ago likely not only went up significantly, but the low interest rates available then have also risen dramatically. “What you may have been able to […]
July NoVa home sales drop 29% from 2021
As price growth slowed and inventory increased slightly, Northern Virginia housing sales dropped 28.8% in July compared with last year, according to a Northern Virginia Association of Realtors report published Friday. “More options are available to homebuyers now that the market is calming. It remains a seller’s market, but the feeding frenzy has subsided somewhat,” […]
Hampton Roads’ July active house listings down
Hampton Roads’ active residential listings in July continued to lag behind monthly totals for the past four years, according to Real Estate Information Network Inc. data published in August. Active listings have dropped steadily every July since 2014. At the end of July, there were 4,129 homes actively listed in the region. In 2021, that […]
