Here are five things that everyone should know about NoVa real estate.Looking to buy a home? Click here to view all homesLooking to sell your home? Get a free home value report hereI’ve got a
2018 First Quarter Market Update
Dated: March 17 2018
The real estate market is constantly fluctuating based on many different factors. In this video, I discuss some of what the trends are from the first quarter heading into the second quarter coming up. A few of the main points are:
- Interest rates are rising. The days where a 3.25% fixed rate was common have come to an end. 5, 10 &
15 yeararms are becoming more popular as the rates are typically lower. We expect to see rates continue to rise, especially in the next two weeks. This is having an effect on buyers in that while many were waiting, they are now feeling the pressure to buy so they can get rates while they're still relatively low.
- Inventory is at an all-time LOW. This is actually country-wide. We're seeing a lot of multiple offer situations in the less than $750,000 price range. Buyers are having to be creative and competitive with their offers.
- Rising interest rates + Pressure on the market from buyers COULD = Prices to likely increase
If you'd like to know more or are looking to buy or sell give us a shout at 703-338-0872
Latest Blog Posts
Here are a few essential home-buying terms that everyone should know.Looking to buy a home? Click here to view all homesLooking to sell your home? Get a free home value report hereYou’ll hear