Sign In
Free Newsletter
Fifth District economy has moderate growth, Fed says
The Federal Reserve’s Fifth District (including Virginia, North Carolina, South Carolina, West Virginia and Maryland) saw modest growth but was constrained by supply issues and labor shortages, according to the latest edition of the Federal Reserve’s Beige Book, released Wednesday. The Beige Book is published eight times per year and is based on anecdotal information gathered […]
Homes inventory declined sharply last month in Va.
Virginia’s inventory of homes continues to decline, but buyer demand remains high, according to a report released Tuesday by Virginia Realtors. At the end of November, there were 16,242 active listings across the commonwealth, nearly 25% fewer than the same time last year. The rate of decline in homes on the market slowed down over […]
Hot property
Richmond real estate developer Andrew Basham’s company, Spy Rock Real Estate, owns so many properties within Scott’s Addition that local business owners jokingly refer to the neighborhood as “Andrew’s Addition.” As the area has become Richmond’s hottest neighborhood — literally and figuratively — Basham and his business partners at Spy Rock appear to have been […]
New luxury apartments coming to downtown Norfolk
With $56.2 million in financing in place, Marathon Development Group’s Frank “Buddy” Gadams is ready to start work on “Gravity 400 Apartments,” in downtown Norfolk, Berkadia Commercial Mortgage LLC and Breeden Construction announced. Located at 400 Waterside Drive, the 273-unit high-rise apartment tower will be have studio, one-, two-, and three-bedroom floor plans, in a [&he[...]
Reston’s Stanley Martin Homes breaks ground for RVA condos
Reston-based Stanley Martin Homes broke ground on a new downtown Richmond neighborhood, Carver Square, last month. Located in the city’s Carver neighborhood near Virginia Commonwealth University’s Siegel Center and across from Maggie Walker Governor’s School, Carver Square will feature 90 two-over-two-style garage condominiums on two acres at the corner of Moore and Lombary stree[...]
‘Frenzied’ housing market is normalizing
The residential real estate market frenzy in Virginia may be slowing to more normal conditions, the chief economist with Virginia Realtors said in a new report out this week. For the first time in more than a year, sales activity slowed in September, compared with a year ago. Last month, there were 13,079 home sales […]
Fed says Fifth District economy sees moderate growth
The Federal Reserve’s Fifth District (including Virginia, North Carolina, South Carolina, West Virginia and Maryland) saw modest growth in recent weeks, according to the latest edition of the Federal Reserve’s Beige Book, released Wednesday. The Beige Book is published eight times per year and is based on anecdotal information gathered from the 12 Federal Reserve […]
Dragas Cos. plans 150-home development in Chesapeake
Virginia Beach-based Dragas Cos. will break ground on a single-family residential development project in Chesapeake in 2022. The project, named Crestfield, will lie on 65 acres off Elbow Road near Centerville Turnpike North. It will have 150 single-family homes of roughly 2,450 to 2,800 square feet each. The houses are expected to sell in the […]
Capital Square buys Chesterfield apartment complex for $86M
Henrico County-based Capital Square 1031 purchased the Livingston Apartment Flats in Chesterfield County from Cosby Village Residences LLC for $86 million earlier this month. Whitson Huffman, Capital Square’s chief strategy and investment officer, noted that Chesterfield’s population grew 11% between 2010 and 2019 and is projected to grow another 12% by 2030, making the area […]
Hampton Roads reports continued seller’s market for homes
The Hampton Roads area was still seeing a tight market for homebuyers in July, according to the Real Estate Information Network Inc.’s latest report on the region. Compared to July 2020, there was a 17.13% decrease in active listings last month, along with higher prices. REIN, using the region’s Multiple Listing Service data, reported there […]
NoVa housing forecast: Still tight for single-family homebuyers
In the Northern Virginia Association of Realtors’ mid-year forecast released Friday, a panel of real estate experts predict a continued tight market for single-family homes and higher residential prices in the second half of the year, but the market appears to be normalizing from last year’s heights. “This year, the mid-year update is particularly relevant […]
Fed says Fifth District economy growing moderately
[wpdiscuz-feedback id=”z7qx6rb9ba” question=”Why?” opened=”0″]Amid the post-pandemic recovery[/wpdiscuz-feedback], the Federal Reserve’s Fifth District (including Virginia, North Carolina, South Carolina, West Virginia and Maryland) has been seeing moderate economic growth in recent weeks, according to the latest edition of the Federal Reserve’s Beige Bo[...]
