March existing-home sales were down compared to 2019. These metrics were influenced primarily by COVID-19 pandemic responses such as social distancing and executive orders to stay-at-home. With that said, the decrease of this statistic was not entirely a collapse in the market. Heading into the pandemic the first part of 2020 presented a strong andContinue reading “Housing Report-April Update”
Interest rates continue downward trend, how is the impacting housing?
Each week the National Association of Realtors publishes highlights from the market and the industry. Here are my takeaways: The real estate industry is adjusting to the COVID-19 pandemic. Over half of the buyers and sellers are slowing down their activity, but there is still business occuring. Real estate activity will not stop. 25% ofContinue reading “NAR’s Weekly Update-April 13-17, 2020”
Unemployment, furloughs, and reduced earnings have dramatically increased since COVID-19 has shutdown the world. For most Americans, the biggest monthly expense is being impacted: mortgage payment. With this new reality, it does not mean that foreclosures are necessary for homeowners. There are options, and most mortgage lenders will work with homeowners. The current landscape isContinue reading “Forbearance vs. Deferment?”
I know! You have been waiting for this since the New Year. Well, it is finally here. Let us take a quick look at what the housing market has done in to close out 2019. We have to zoom out to begin though. We saw the national economy continue to be stable and strong. JobContinue reading “2019 4th Quarter Report”
Are mortgages getting cheaper? Check out this video.
What were the key indicators for the housing market in RVA for December 2019?
Keller Williams as rolled out an awesome new tool you will be interested in. This resource is called Neighborhood Snap. This powerful tool allows you to have excellent insight into your neighborhood housing market. You are fully aware, that home buyers and sellers who are unprepared and ill-informed, will miss out on great opportunities, and IContinue reading “Market Snaps”
The Virginia Realtors group has released their second quarter home sales report. The short version of this report: The economy is strong. Inventory is low. Prices are high. The national economy experienced moderate growth. Trade issues and global economics remain a looming concern on the U.S. economy, but there is an expectation the Fed willContinue reading “2019 Quarter 2 Report”
The June housing numbers have been reported for the Richmond-Metro area. The numbers continue to reflect the one major challenge of the housing market: inventory. The inventory in RVA continues to remain small and has shrunk compared to last year. At the end of June 2018, there were 2,894 homes on the market in Richmond-MetroContinue reading “June 2019 RVA Housing Report”