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Virginia Housing Market starts to cool off

While the housing market across Virginia is still strong, there are signs that it’s starting to cool off a little bit in many local markets. Here are some reasons for the ease:

-Low inventory and rising home prices have left buyers frustrated and in turn they have paused their home search
-More homeowners may be listing their homes to capitalize on the market
-With the economy opening up, people many be looking to spend their money on other things, rather than a home purchase.

Things to expect:
-Slightly slower sales activity
-More inventory
-Lengthening of days on market
-Pace of price growth should moderate slightly

(Source: Virginia Realtors)
To find out what your home might sell for in today’s market contact William Bowles today at 804-282-2828.

“Make your NEXT home a Grand Heritage Home!”

(Licensed in the Commonwealth of Virginia)

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