Interest rates started increasing in March 2022 and hasn’t stopped since. Rates went from below 3% to above 3% in June 2022 to 5% in May 2023. This month, September 2023, interest rates are hovering around 7%. Northern Virginia has been affected. Here’s...
Market Shift 2022 It’s hard to believe we are still in a Seller’s market. While inventory remains low, it is taking longer for homes to go under contract. And buyers, who got quiet as mortgage interest rates soared, seem to be back. Here is the real estate...
Market Shift 2022 All the talk is about the market shifting. With inflation and the talk of recession, many buyers have stopped looking as more homeowners are putting their homes on the market. Real estate agents in Northern Virginia are feeling the change in tides....
Are Home Prices Going Down in Northern Virginia? All the talk is about inflation. Gas prices, electricity, food are all going up in costs. The stock market is taking a serious blow. Inflation is now at 9.1%, an all time high in 40 years, according to Forbes. And the...
Mortgage interest rates continue to rise and the cost of goods and services also increase. Many buyers have backed off from shopping for a home. There are several signs the housing market is slowing. Agents are reporting less showings, less offers and more days on the...
