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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.

March brought a slight wave of activity in the New River Valley housing market, with signs that both buyers and sellers are testing the waters again. According to the latest figures, existing-home sales across the U.S. rose 4.2% from February—outpacing predictions. Here in our region, the numbers paint a more…

The spring real estate market is waking up in a big way. After a winter slowdown due to rough weather, residential construction bounced back in February with a 1.3% increase from January. The Mortgage Bankers Association says this marks more than two months of year-over-year growth—something we haven’t seen in…

Townhomes are quietly becoming a top pick for first-time homebuyers, and it’s easy to see why. In a market where affordability feels like a moving target, these homes offer a practical, often overlooked solution that checks a lot of boxes without breaking the bank. For starters, the price point is…

When you think about a house, chances are your mind goes to kitchens, bathrooms, maybe even the attic—but hardly anyone thinks about the crawl space. Yet this hidden area plays a huge role in the health of your home. It's easy to ignore, but problems down there can creep up…

Looks like the housing market is showing some real signs of life again. New home sales bumped up in February and are up over 5% compared to last year. Prices have dropped about 10% from their 2022 peak, which is helping more buyers get back in the game. Builders are…

The National Association of Realtors (NAR) just announced a new rule that gives home sellers more control over when their listing goes public. Called “Multiple Listing Options for Sellers,” it lets sellers delay public marketing on sites like Zillow or Redfin—while still sharing the listing privately with agents in the…

Single women are making big moves in the housing market, and they’ve been doing it for decades. Back in 1981, they made up 11% of home buyers—second only to married couples. Today, that number has nearly doubled to 20%, while single men sit at just 8%. What makes this even…

Home sales across Virginia's New River Valley region slipped again in February, continuing the trend we’ve seen this winter. Only 151 homes sold during the month, which is down about 3% compared to last year. Carroll and Pulaski counties took some of the biggest hits, with double-digit percentage drops. That…

The home building industry was already facing challenges in 2025, but new tariffs on building materials and government layoffs have only made things worse. If mortgage rates don’t come down soon, we could see serious supply issues and shrinking profit margins. Why does this matter? The housing sector is a…

The 2025 housing market is shifting, but it’s not a repeat of past crashes. Home inventory is climbing—up nearly 27% from last year—and it’s expected to grow another 15% by the end of the year. Normally, when more homes hit the market, prices start to drop. But this time, other…

The Federal Reserve has decided to keep interest rates unchanged, maintaining the federal funds rate at 4.25% to 4.5%. This decision comes amid rising inflation and economic uncertainty, largely fueled by trade policies that have increased costs for businesses and consumers. President Trump's recent tariffs on imports have driven up…

Raising backyard chickens sounds like a dream but before you dive in, there’s more to it than just tossing some hens in the yard and waiting for breakfast to appear. The biggest draw, of course, is the eggs. Fresh, rich, and loaded with nutrients, they put store-bought ones to shame.

For years, being a loan officer was pretty straightforward—people needed a mortgage, you found them one, and that was that. But those days are fading fast. The mortgage game is changing, and if you’re not evolving, you’re getting left behind. Today’s clients aren’t just looking for someone to approve their…

When it comes to determining a home’s worth, assessed value and market value often come up, but they serve different purposes. The assessed value is primarily used for property taxes, determined by a local tax assessor who evaluates the home based on factors like its size, condition, and local assessment…

In the week of March 10, 2025, we've seen some exciting news in the mortgage market: purchase mortgage applications jumped up by 9%. This increase is a good sign as we head into the spring home buying season, and it looks like more people are looking to buy homes compared…

Receiving a home as a gift from your parents might sound like a dream come true, but it comes with more strings than you’d expect. With wealth transferring between generations at an unprecedented rate, many parents are either buying homes for their children or passing down property they already own.