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May home sales barely move as high mortgage rates, prices, weigh on housing market
NEW YORK (AP) — Sales of previously occupied U.S. homes edged higher in May, as stubbornly high mortgage rates and rising prices made homebuying less affordable even as the inventory of properties on the market continued to increase. Existing home sales rose 0.8% last month from April to a seasonally adjusted annual rate of 4.03 million units, the National […]
Average long-term US mortgage rate eases to 6.81%, the third consecutive weekly decline
The average rate on a 30-year U.S. mortgage eased for the third week in a row, a welcome trend for prospective homebuyers at a time when elevated borrowing costs remain a drag on the housing market. The long-term rate fell to 6.81% from 6.84% last week, mortgage buyer Freddie Mac said Wednesday. A year ago, the […]
30-year mortgage rates climb to 6.89%, highest since Feb
U.S. 30-year mortgage rates rise to 6.89%, their highest level since February, pushing borrowing costs up and slowing home sales.
More sellers than buyers in housing market slowdown
U.S. housing market sees 34% more sellers than buyers as of April, with fewer home shoppers than any time since 2013, Redfin reports.
Virginia housing sales drop again, but listings spike 35.5%
Virginia home sales fell for the third month in a row in April 2025, but active listings rose 35.5% the same month.
Housing supply, affordability gap remain top of mind for potential homebuyers
Households earning $75,000 a year can only afford 21.2% of all home listings, according to the National Association of Realtors and Realtor.com. In the 2025 Housing Affordability & Supply report released Thursday, NAR officials said that America’s housing affordability gap persists with less than one-fourth of all For Sale home listings economically feasible for potential buyers maki[...]
Northern Virginia sees surge in housing inventory
The Northern Virginia housing market saw a significant increase in active listings in April, the Northern Virginia Association of Realtors reports.
Georgia-Pacific to close Emporia mill, cutting 550+ jobs
Georgia-Pacific will permanently close its Emporia plywood mill, cutting 550 jobs. The shutdown deals another economic blow to Southern Virginia.
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.
Average rate on a US 30-year mortgage eases to 6.76%, its second straight weekly decline
U.S. mortgage rates dipped to 6.76%, offering slight relief to buyers, but high costs and rising home prices continue to dampen spring housing activity.
Average US rate on a 30-year mortgage climbs to 6.83%, highest level since late February
The average rate on a 30-year mortgage in the U.S. climbed to its highest level in eight weeks, a setback for home shoppers in the midst of the spring homebuying season. The rate rose to 6.83% from 6.62% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 7.1%. Borrowing costs […]
Statewide home sales declined in February
Virginia home sales slowed in February, according to statewide sales data released Tuesday by Virginia Realtors. The trade association reports that there was a pullback in closed sales in February, with 6,129 homes sold statewide. That’s 604 fewer sales than last February — a 9% decrease. “Some of this was likely due to winter weather […]
