Housing Market

Are you looking to make the most out of your real estate investments in Central Virginia? With real estate prices up 6.95%, pending sales up 6.49%, closed home sales up 9.49%, and homes for sale up 1.04%, now is the perfect time to get into the market! Reach out to Wes Estes, an experienced real estate professional with 23 years of experience, to talk about a strategy to sell your home for a top-market...

Real Estate Market Adjustment: What You Need to Know Are you looking to buy or sell a home? Understanding the current market and how it may affect your real estate goals is important. In this blog, we'll take a look at local real estate data for homes for sale, pending sales, and homes that went under contract. We'll also discuss how long homes are staying on the market and what the experts are...

Purchasing a home provides a boost to your community and your family, a true win-win. Let's connect to see how you can be an economic driver this...

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  The residential housing market has been hot. Home sales have bounced back solidly and are now at their second highest pace since February 2007.  Real estate is location specific.  Some areas are demonstrating price increases at a much high demand than others.  The market can be spotty depending on where you live.  We can help explain this for the Chesterfield County, Tri-Cities, Richmond and...

Housing news was boosted by the National Association of Home Builders Housing Market Index, which posted its highest readings since July of 2002. In other news, the Federal Reserve's Federal Open Market Committee voted to raise the federal funds rate and Fed Chair Janet Yellen gave a press conference. Mortgage rates rose and weekly jobless claims fell.

As 2017 winds down, analysts are forecasting economic developments for 2017. Forbes identified three indicators that the U.S. housing market has recovered. Mortgage rates rose again last week; jobless claims fell and consumer sentiment jumped rose five points. The details:

September's 20-City Housing Market Index from Case-Shiller showed signs that rapidly rising home prices in some metro areas may be losing momentum. San Francisco, California, posted a month-to-month reading of -0.40 percent and a year-over-year reading of 5.70 percent. Home prices stayed flat in Seattle Washington from August to September, but posted the highest home price gain of 11.00 percent year-over-year. Slowing home price growth in high-demand areas suggest that affordability concerns are impacting rapid gains in home prices seen in recent years.

According to the National Association of Home Builders Housing Market Index for November, builder sentiment was unchanged at a reading of 63. Readings above 50 indicate that a majority of builders are confident about housing market conditions. Readings for three sub-indexes used to calculate the Housing Market Index Readings for builder confidence in current market conditions and market conditions within the next six months were posted at 69. The reading for buyer foot traffic in housing developments was 47. Buyer traffic has not reached the benchmark reading of 50 since the peak of the housing bubble approximately 10 years ago.