Annual Home Sales In A Larger (Longer) Context
Even after the last few home sales of 2022 are tabulated, we'll see a net decline in the number of homes selling in 2022 as compared to 2021. In the graph above I have…
Even With A Slower Second Half Of 2022, It Will Have Been The Third Strongest Year Of Sales, Ever
Mortgage interest rates rose considerably in the second half of 2022 -- actually, even as early as mid-April they had already surpassed 5%. These higher rates eventually…
Trading Up For A New House Will Likely Also Mean Trading Up Your Interest Rate
For about three years (2019-2021) the average mortgage interest rate for a 30 year fixed rate mortgage was less than 4%. It even dropped below 3% at times. As such…
Monthly Housing Payments Have Changed A LOT In The Span Of A Single Year!
With some regularity I take a look at trends in mortgage interest rates... but nobody really specifically cares about their mortgage interest rate... they really care…
337 Homes Planned For Wingate Meadows On Pleasant Valley Road To Include 91 Detached Homes, 102 Duplexes, 144 Townhomes
If you've driven by Wingate Meadows recently, you would see a new residential development under construction - in Rockingham County - at/near the intersection of Osceola…
376 Apartments In Three Buildings, With Clubhouse, Pool and Parking Deck Proposed For Peach Grove Avenue
Lingerfelt Development, LLC is requesting a special use permit from the City of Harrisonburg to allow for the development of a 376 unit apartment complex on Peach Grove…
An Appraisal Contingency Should Not Worry Most Home Sellers
For a few years now, in a highly competitive seller's market, buyers were waiving contingencies left and right... No Home Inspection Contingency! No Radon Test…
Home Sales Slow In November 2022, But Prices Keep On Rising
Happy Tuesday morning, friends! Winter is upon us. The holidays are upon us. I hope you have been enjoying the variety of Christmas light displays in and around…
Comparison Shopping (For Homes) Is Difficult In A Low Inventory Market
If you were going to buy a ____, it would probably be nice to look at multiple options, compare them, and then decide which one to buy, right? That is often possible with…
So You Think Home Prices Will Decline? We Would Likely Need To See Much Higher Inventory Levels First!
It's all about supply and demand. Over the past few years there have been plenty of home sellers... but WAY more home buyers. This resulted in buyers fighting over each…
53 Townhomes Proposed Near Intersection Of East Market Street, Stone Spring Road
click here for a larger file A 53 unit townhome development is being proposed directly on East Market Street, just prior to the 7-11 gas station at the corner of East…
There Are Still Plenty Of Buyers For Many Houses In Many Price Ranges
Some segments of the local real estate market are slowing down... New listings that would have had 20 showings in the first week a year ago are now only having two or…