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residential real estate

Aug 12, 2022

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,” […]

Aug 12, 2022

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 […]

Jul 25, 2022

Va. housing market sees sharp drop in sales

The housing market is cooling off, compared to a year ago. Home sales in Virginia dropped by nearly 19% in June, compared to sales in June 2021, the sharpest drop in the housing market since the beginning of the pandemic, Virginia Realtors reported Friday. In June, 13,324 homes were sold in Virginia, which is 3,208 fewer […]

Alquist 3D is building two 3D-printed houses on Pulaski’s Pierce Avenue. Photo courtesy Alquist 3D
Jun 28, 2022

Pulaski sees housing future in 3D

Like communities around Virginia, the town of Pulaski faces housing demand far outpacing supply. “We don’t have enough housing in our area,” says Town Manager Darlene Burcham. “So many of the people who work in our area don’t live in the community.” One way Pulaski hopes to grow inventory is by working with Iowa-based home […]

Jun 24, 2022

Va. median home sales price breaches $400k for first time

The statewide median sales price for a home in May rose above $400,000 for the first time, according to the Virginia Realtors‘ May 2022 Virginia Home Sales Report. The median price was $401,082, up 8.7% and more than $32,000 from a year ago. In total, 13,048 homes sold in Virginia in May, an 8.5% decrease […]

Jun 10, 2022

Economic growth to continue slowing, ODU experts say

The U.S. economy will continue to slow in the second half of 2022 and a recession is increasingly likely, according to the Old Dominion University’s Dragas Center for Economy Analysis and Policy’s mid-year economic forecast released Friday. Increases in inflation are expected to slow as well but harden, leaving costs elevated, report Robert McNab and […]

May 20, 2022

255-apartment complex coming to Suffolk

The Cathcart Group, a Charlottesville-based real estate developer, is building a 255-unit apartment community in Suffolk planned to open in 2023. The Gallery at Godwin will be on nine acres at 3061 Godwin Blvd. in Suffolk and will have one-, two- and three-bedroom apartments with rents ranging from $1,200 to $1,900. The complex will also […]

May 20, 2022

Castle, Pembroke partner on Va. Beach apartments

In a joint venture, Charlottesville-based Castle Development Partners and Virginia Beach’s Pembroke Square Associates will build a 12-story apartment complex as part of Pembroke Mall’s $200 million redevelopment in Virginia Beach. The complex will be on top of the existing Stein Mart building, with about 35,000 square feet of ground-level retail, a four-story parking garage […]

Apr 22, 2022

March NoVa home sales down 4.9% from 2021

Northern Virginia saw fewer home sales last month compared with March 2021 due to low inventory and higher rates, according to a Northern Virginia Association of Realtors report published Friday. The market saw a 4.9% decline in home sales over March 2021, not far off from the 4.5% drop nationwide. “I expect that rapid price […]

Mar 30, 2022

Hitting a brick wall

Casey Renner has worked in four states over the course of her teaching career, and she’s never liked a school more than Arlington County’s Wakefield High School, where she teaches science and special education. But she has also never had as much difficulty finding housing near work as she has during her 17 years teaching […]

Mar 25, 2022

Median home prices rose 9% in Va. since 2021

The cost of buying a home in Virginia increased nearly 9% in the past year, according to a March 21 report from Virginia Realtors. The statewide median sales price in February was $350,000, or $28,550 higher than it was in February 2021. That’s an 8.9% increase and the sharpest gain since June 2021. Not only […]

Mar 20, 2022

Rising interest rates not enough to deter homebuyers

Even the Federal Reserve hiking interest rates likely won’t be enough to cool down the hot real estate market in Virginia, experts say. In an attempt to slow the highest inflation rates in 40 years, Fed officials voted on March 16 to raise the benchmark federal funds rate by a quarter percentage point to a […]

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