Market Info - News - Blog

Selling your home isn’t just another transaction—it’s a major life moment. Yet, many homeowners unknowingly make some classic mistakes that could cost them big bucks. Zillow’s latest survey really puts a spotlight on where sellers are going wrong—and, interestingly, where they’re getting it right. One of the biggest misfires? Tossing…

A new tax bill just passed in the U.S. Senate, and it’s packed with changes that are good news for people who own homes—or hope to someday. The National Association of REALTORS® (NAR) worked closely with Congress to make sure the bill included support for homeowners, renters, and anyone involved…

When you're selling your home and a similar house nearby suddenly goes up for sale at a lower price, it can feel like a punch to the gut. You start to wonder—did I price mine too high? Will buyers skip over my home now? Is this going to kill my…

While some parts of the country are struggling with rising mortgage debt, Virginia is holding strong. A new report shows that Louisiana, Kentucky, and Mississippi have the highest share of what’s called “seriously underwater” mortgages—where homeowners owe at least 25% more than what their home is actually worth. In Louisiana,…

Making a lowball offer—offering significantly less than the asking price—tends to spark strong reactions. Some see it as a smart way to test the waters, while others think it’s just plain rude. But in real estate, it’s not always black and white. Sometimes, a low offer makes strategic sense—other times,…

If you’ve been hoping for mortgage rates to finally dip, you might want to sit down for this one. Goldman Sachs just released its latest housing and mortgage outlook, and it’s not exactly what home buyers wanted to hear. According to their updated forecast, those high mortgage rates we've all…

The New River Valley market in May 2025 showed some interesting moves. Prices are climbing, inventory is building, and yet, actual sales are pulling back slightly in some areas. It’s a mix of momentum and hesitation—typical of a market trying to find its next gear. Let’s start with what stood…

For anyone holding out hope that mortgage rates will magically drop back to historic lows, it’s time for a reality check. A lot of people think they’re being smart by waiting—assuming lower rates will mean lower payments or more house for the same money. But that gamble might actually cost…

If you're thinking about selling your home, here’s the one thing you need to know upfront: pricing your house correctly from day one makes all the difference. In today’s market, buyers are tuned in. They’ve got access to listings, price comparisons, and market trends at their fingertips. That means if…

Nationwide - You’d think more homes on the market would lead to a flurry of buying activity, right? Surprisingly, that’s not what we’re seeing. For the first time in years, housing inventory is actually up—but many buyers are still sitting on the sidelines. The usual spring surge of home sales…

April brought a breath of fresh air to the housing market, especially for new construction. New home sales shot up nearly 11%—the biggest monthly gain in two years. Inventory’s on the rise too, up 9% year-over-year, and buyers are getting more room to negotiate as the median price dipped 2%…

Ever felt like there’s a secret stash of dream homes that no one’s telling you about? You’re scrolling listings, watching houses disappear in days, and suddenly start wondering—are there hidden homes I’m not seeing? Let’s start with what these “secret” or “off-market” listings actually are. In most cases, these are…

Virginia’s older adult population is growing—and fast. Nearly a quarter of the state’s residents are 60 or older, and projections show that number climbing even higher over the next decade. As a result, the housing market is shifting to meet the needs of this expanding demographic. Older adults in Virginia…

As we move into the second half of 2025, a clearer picture of the housing market is starting to emerge. While buyers and sellers alike may still feel like they’re navigating uncertainty, real estate experts are coming together around one key idea: the market isn’t crashing—it’s stabilizing. Over the past…

Getting approved for a mortgage used to be all about your credit score, income, and debts. But now, lenders might be checking something else too—your social media accounts. Yep, that selfie with the champagne bottle or the vacation pics from Cancun might be saying more about your spending habits than…

Thinking about selling your home but not quite ready to hit the open market? You might want to consider something called a delayed or exclusive listing. These options let you quietly dip your toe in the water without doing a full cannonball into the real estate deep end. An exclusive…

After months of sluggish activity, the mortgage market finally caught a break. Last week, mortgage applications jumped nearly 20%—the biggest increase since June 2023. What sparked this sudden rush? A small but meaningful dip in interest rates brought some much-needed energy back into the housing world. Rates on 30-year fixed…

Right now, it almost feels like we're living in two housing markets at once. On the one hand, buyers are feeling the pressure. Mortgage rates have risen, and home prices haven't really cooled off. That combo has made purchasing a home more expensive than it’s been in years. Understandably, some…

The New River Valley housing market saw some mixed signals in April. First, let’s talk about homes for sale. Inventory is up. There were 11% more residential homes on the market than this time last year. More options should be good for buyers, right? Sort of. While there are more homes…

Buying a home should be one of life’s most exciting milestones, but for a surprising number of first-time buyers, the excitement fades fast. A new survey by Clever Real Estate reveals that nearly one in three people who purchased a home for the first time in 2023 now regret it.

The New River Valley housing market kicked off 2025 on the slower side. Fewer homes sold compared to last year—about 97 fewer deals, an 18% drop—but prices didn’t follow that same path. In fact, the region’s typical home price rose to $255,000, up $30,000 from a year ago. Some places,…

Sales activity across the New River Valley cooled off again this March, marking the third straight month of year-over-year decline. Just 189 homes sold across the region—a drop of over 15% from last March. Some areas were hit harder than others, with Wythe County sales cut nearly in half and…

March saw a surprising jolt in the housing market as new home sales surged by 7.4% compared to the previous month, well above expectations. That uptick also marked a 6% jump over the same time last year. The fuel behind this sudden rise? A sharp drop in mortgage rates that…

If you’re house hunting right now, the odds are good you’ll get more than just the keys at closing. Nearly half of all U.S. home sellers in early 2025 offered concessions to buyers, things like covering repairs, closing costs, or helping reduce mortgage rates. That’s up noticeably from last year…

One of the most cost-effective improvements is replacing your front door with a steel one. This simple upgrade not only enhances curb appeal but also recoups nearly 100% of its cost at resale. Similarly, installing a new garage door can offer a full return on investment, making it a smart…

In March 2025, the U.S. housing market experienced a significant downturn, with housing starts plummeting 11.4% month-over-month. This decline marks the most substantial drop since the early days of the COVID-19 pandemic, bringing the annualized rate down to 1.324 million units. Economists had anticipated a decrease, but the magnitude of…

When a homeowner decides to sell, their mental image of the process can be a bit... idealized. They picture eager buyers walking through their well-loved home, marveling at every detail, throwing out compliments, and immediately making an offer. But in reality, buyers don’t always play along with that fantasy. Let’s…

When you're out hunting for a home and walk into a brand-new model with that fresh paint smell and shiny finishes, it’s easy to get swept up. Builders know this. They’re pros at making everything look picture-perfect, and when inventory is low like it’s been the past few years, they…

Mortgage rates have jumped back above the 7 percent mark, and the ripple effect is hitting the housing market hard. After a brief spring bounce in buyer activity, the renewed spike in borrowing costs is putting that momentum on pause. On Friday, the average 30-year fixed mortgage rate rose to…

If you're getting ready to sell your home, there's one thing you absolutely need to get right: the asking price. It might feel natural to start high and leave room for negotiation, but that strategy can backfire fast in today’s housing market. Right now, buyers are more informed than ever.