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Completed home sales decrease in Feb. for NoVa, Hampton Roads
Housing sales in February decreased year-over-year in Northern Virginia and Hampton Roads. Inventory and median selling prices increased in both regions. Northern Virginia Closed sales in Northern Virginia decreased year-over-year in February, according to Northern Virginia Association of Realtors data released March 11. The median home price and active listings rose compared to the same […[...]
Average US rate on a 30-year mortgage edges higher, ending a seven-week slide
The average rate on a 30-year mortgage in the U.S. edged higher this week, ending a seven-week slide that helped ease borrowing costs for home shoppers just in time for the spring homebuying season. The average rate rose to 6.65% from 6.63% last week, mortgage buyer Freddie Mac said Thursday, March 13. A year ago, […]
Executive to retire after three decades at S.L. Nusbaum
Frank H. Cowling, Jr. a partner and senior vice president of private asset management at S.L. Nusbaum Realty, plans to retire at the end of March after four decades working in commercial real estate, according to a Tuesday announcement by the Norfolk-based real estate development company. Cowling joined S.L. Nusbaum in 1994 as vice president […]
CoStar completes $1.6B acquisition of Matterport
Arlington County-based real estate data and analytics company CoStar Group announced Friday that it had completed the acquisition of Sunnyvale, California-based 3D digital twin technology company Matterport. CoStar says the $1.6 billion acquisition, which was announced last year, will allow the company to accelerate the adoption of AI-driven digital twin technology across the global real […[...]
Real estate company names president of New Homes Division
Chesapeake-based Berkshire Hathaway HomeServices RW Towne Realty announced Tuesday that it has promoted Dianne Gordonn to president of its New Homes Division. Gordonn has about two decades of experience in the real estate industry. According to her LinkedIn account, she has served nearly two years as chief operating officer of the new homes division and […]
Leadership: The Virginia Power 50 List
What does power mean? How do you determine who wields more than others? How can you measure an intangible but very real force? In our annual list of the 50 most powerful leaders in Virginia, we set out to do just that, considering the number of employees an executive leads, personal wealth and other metrics. […]
Real Estate and Construction: Stagnant with some silver linings
Realtors slogged through another sluggish market in 2024. Pollyanna types will point out that the commonwealth did see 4,000 more home sales in 2024 than in the previous year, according to Virginia Realtors data. On the other hand, the 102,509 homes that sold in Virginia in 2024 were down 18.8% from 2019 sales. Mortgage rates remained […]
Reports of NoVa housing market’s demise are greatly exaggerated, experts say
“See the rats run,” a Facebook post put up Saturday reads. It’s illustrated with a map purportedly of Arlington County — a map covered with dozens of ovals indicating where houses are on the market. Many of the ovals are labeled “coming soon” or “new.” In the wake of President Donald Trump and Elon Musk’s […]
Construction kicks off on $750M Norfolk casino
After more than four years and amid shifting plans, construction has finally begun on Norfolk’s new $750 million casino resort. Norfolk Casino spokesperson Jay Smith confirmed that construction on the long-awaited project kicked off Friday near Harbor Park. While a ceremonial groundbreaking ceremony was held in October 2024, actual site work didn’t begin until last […]
Bon Secours plans $370M expansion of Henrico hospital
Bon Secours Mercy Health plans to break ground this summer on a $370 million renovation and expansion of Bon Secours St. Mary’s Hospital in western Henrico County, the hospital’s president said Friday. “Since the hospital opened in 1966, this is the most transformative project that we’ve taken on,” Bryan Lee said in an interview with […]
Norfolk eyes two former school sites for development
The Norfolk city government is soliciting help to figure out how to transform two former school sites into significant assets that generate tax revenue. The city government has sent out two Requests for Information asking professional real estate development firms to provide insights on how it should develop the former Coronado School and former Madison […]
Jan. housing inventory, prices increase in NoVa, Hampton Roads
Housing sales last month increased year-over-year in Northern Virginia but dropped in Hampton Roads, although inventory and sales prices rose in both regions. Northern Virginia Home sales, prices and inventory in Northern Virginia rose year-over-year in January, according to Northern Virginia Association of Realtors data released Tuesday. Last month, 833 homes sold in Northern Virginia, […]
