Do Buyers Care About Interest Rates?

Do Buyers Care about Interest Rates? The short answer is yes - but the rise in rates hasn't done much to slow down the market yet because the number of buyers is still disproportionately higher than the number of sellers.  As you take a look at the chart from the Real...

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Does 2% Equal 27%?

While this increase feels dramatic, historically, 5% is still a low rate for a 30-year mortgage, and as you can see from last month's year-over-year numbers (March 2021 to March 2022) sales are still going strong in our region. Despite the rate increases, we are still...

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Are We Running Out of Cake to Eat?

Our theme for last month was, "Can our local real estate market have cake and eat it too?" but "Are we running out of cake to eat?" might be a better question to ask this month. The number of active listings dropped by 25% over the last two months based on...

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February 2022

Have Cake and Eat it too? Last month we wrote about the potential for 2022 to bring in a new type of market and we suggested that a shift away from a seller’s market was unlikely. The latest market summary and statistics from Real Estate Information Network (REIN –...

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New Year, New Market? – Trivia Question

For the past year we have been writing about how few homes there are for sale on the market and how that is the largest driver behind our current seller’s market. An important point to make is that while the months supply of inventory is definitely down (December...

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December 2021

Just the Facts For the past several months we have been writing about what the local Hampton Roads real estate market did in 2021 and we made a few predictions about where we think the market might be heading. This month we are sticking to the facts and next...

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No Black Friday Sales for Houses

For the last two months, we have been watching the local market closely to see if there are signs of a ge in the strong seller’s market that has dominated in 2021. And this month, just like last month, we aren’t close to being ready to declare the seller’s...

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A tiny wobble . . .

Last month we asked this question: Is local demand cooling off? This month we have some statistics suggesting that the local housing market is slowing down a hair, but if you are driving down the highway at 100 miles per hour, is going 97 miles per hour really slowing...

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September 2021

Steady, Steady . . . Last month we asked the question: Is the local real estate market changing? Based on the latest year over year (August 2020 compared to August 2021) statistics, our answer is still no, the market isn’t changing. For last month’s entire...

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